It usually takes 7-10 working days to get IPO refunds after IPO allotments are done by the registrar of the IPO. It also depends on how you are getting the refunds.
There are general two types 1) Electronic Clearing Service (ECS) and 2) Cheque.
IPO Refund Process Example
Example :- The allotment date for of Krishca Strapping IPO is 24th May,2023 and Refund Date is 25th May,2023. The Banks unblock the funds on the refund Date Means 25th May,2023. If the bank has not unblocked the funds, It will be done after the mandate end date, i.e. 03 June,2023