The UPI mandate request status does not update in real-time on the Lakshmishree platform. However, it will show as pending until allotment.
This delay occurs because the payment status is updated based on information received from the exchange and your sponsor bank. As long as the funds are blocked in your bank account, your bid will be considered successfully submitted.
Important Note:
If you cancel your IPO bid and place a new one, make sure that the application number in your new IPO bid matches the UPI mandate before accepting it.