An application becomes invalid if: The bid price is outside the IPO price band. Shares are applied for in less than 1 lot or not in multiples of the lot size. Insufficient balance in the account for fund blocking. Incorrect / mismatched PAN, Demat, or UPI details. Multiple applications from the same PAN in the same category. The UPI mandate is not approved before the deadline.

An application becomes invalid if:

The bid price is outside the IPO price band.
Shares are applied for in less than 1 lot or not in multiples of the lot size.
Insufficient balance in the account for fund blocking.
Incorrect / mismatched PAN, Demat, or UPI details.
Multiple applications from the same PAN in the same category.
The UPI mandate is not approved before the deadline.