Allotment and refund obligations require electronic processing; delayed compliance triggers statutory interest obligation by the issuer, ensured by lead managers. Registrars, consulting with the issuer and lead manager(s), must ensure allotment of specified securities and refunding or unblocking of application monies within Board specified timelines; lead manager(s) must effect allotment, dematerialised credit and refunds electronically. If these actions are not completed within the stipulated period, the issuer must pay interest at the rate of fifteen per cent. per annum for the delay, with payment timing disclosed in the offer document and ensured by the lead manager(s).