Not sure if anyone requires this, but I am going to mention what happened with my ibm offer anyway.
Salary negotiation happened, they were offering me 27 lpa plus variables 5% to 15%. Then they asked for my documents, did my background check. It's been 2 weeks after they started background check and when I asked for further updates they mentioned that now the funds are not there for this role as its a service based role 🥲
If funds do get available within 3 months, then they will share the offer letter otherwise I have to give interviews again 😑
I heard that this is a usual case, people get offers revoked even after getting offer letters. Not sure.