In how many days does the refund in IPO takes place?

After IPO allotments have been completed by the registrar, it usually takes three to 10 business days for IPO refunds. It all depends on how the refunds are processed. Two ways are common to process refunds:

1. Electronic Clearing Service This is also known as direct deposit into a bank account. It's the fastest, easiest, and most hassle-free method. ECS allows you to have the amount of the refund directly transferred into your bank account. This service is only available in a few Indian cities and depends on which registrar you choose.
2. Checks: Checks are a traditional way to send refunds. This is a slower method as cheques take a few days to clear. It takes about 3 to 5 business days for cheques to reach you.