Dhan has introduced a new feature called SuperIPO, a first-of-its-kind automation for IPO applications.
SuperIPO automatically applies for Mainboard IPOs based on conditions set by the client.
As shown in the screenshot, clients can choose:
The category (Retail / HNI), and
A subscription condition (x times) that must be met before the IPO application is triggered.
Example:
You can set SuperIPO to apply under the Retail category for 1 lot, with a condition that the IPO will be applied only if the BHNI subscription exceeds 10x.
Some Questions answered:
1. Does SuperIPO apply for every IPO that meets the conditions?
No. Currently, SuperIPO applies only to Mainboard IPOs.
2. What if an IPO gets applied via SuperIPO but I don’t want to proceed?
You can either cancel the application or simply not approve the UPI mandate.
Can the conditions be modified after setting up SuperIPO?
Yes. You can modify or deactivate the SuperIPO feature at any time.
Some Suggestions & Questions for the Dhan Team
1. In the screenshot, the category labeled HNI should be updated to sHNI for better understanding.
2. When an IPO application is submitted via SuperIPO:
Is it applied at the cut-off price for Retail?
And for sHNI, is it applied at the upper price band?
This is important because IPO notifications from Dhan currently show the amount calculated at the lower price band, [discussed here]( Display Cut-off IPO Amount in Notifications, Rather Than Minimums )
3. Instead of selecting lot size for HNI (Min/Max), consider providing an amount-based option.
For example, if a user selects ₹3 lakh, SuperIPO should automatically calculate and apply the number of lots closest to that amount for each IPO.
The same option can be given to Retail applications as well.
In short, users should be able to choose whether they want to configure SuperIPO using lots or amount during setup.
4. The modify option of SuperIPO should be either on top of Open IPOs or under MyBids. With the number of SME IPOs coming this modify option gets deep down and gets hard to find at first sight.
A seperate request: To add a filter option on IPO page to filter between SME and Mainboard IPOs. Just a toggle switch would also be fine.
That’s all.
I will be testing this feature when next IPOs come.