Why can't I see IPO shares credited to my Upstox account despite the confirmation from CDSL that the shares have been credited?

CDSL usually sends a confirmation email to inform IPO applicants that the shares have been credited to their Demat account. These shares will be visible in your Upstox demat account usually a day prior to the listing. 

Keep in mind: The shares will only be credited to your demat account if you are allotted the IPO.