Not able to sell IPO holdings at 10 am

I received allotment of the Concord IPO and at 10:00:24, I placed a sell order for 910 rupees. Order was instantly rejected. I repeated the order 2 more times and it was rejected again.

This has never happened with me on Zerodha.

Reason for rejection as per Dhan: EXCH:16387:Security is not allowed to trade in this market

I had placed the sell order on Dhan website. Thereafter I tried once more but this time I placed the order on mobile and it was successful, however by that time price was hovering around 900 and 901, so I sold at that price.

Thank you Dhan for not allowing me to sell at 10 am, I incurred a loss of about 180 rupees. Nevermind, but tell me should I use Dhan for IPO orders next time or shall I continue with Zerodha?

Also, when I clicked sell on the Dhan website, it took a good 2 seconds for order placement. The instant sell is a lie.

1 Like

Hi @encore please share your UCC, will get it checked.

The price at which i bought stocks yesterday are totally wrong.
Also my portfolio has not been refreshed since yesterday .
Also traders diary showing nothing as i was in profit yesterday.
Can you guys confirm if you are able to solve the issues, if not i need to shift my portfolio to other broker as i cannot waste my time and money chasing you people on daily basis

@encore The rejection message is from the exchange. Usually on the listing date the security is moved from the call auction to continuous trading at sharp 10 am after a buffer of around 15 minutes. However, here in this case, the call session lasted longer by a minute and hence you got rejection message from the exchange.

@Pjhcst please share your UCC

VYHJ35221L
Sir pls let me know if this is going to be resolved or not.

@iamshrimohan any update on this???

@Pjhcst please share thhe scrip in which you are finding the discrepancy. I checked a couple of them and it is showing correct. Also share screenshot of your portfolio over DM.

@iamshrimohan for example IRFC, the avg price is wrong.
Traders diary is not updated.
How you can say that you are able to see everything correct.
Why will i raise unnecessary complaints.
You have access to watch my portfolio so why you are asking to send it.

Hi @Pjhcst Traders Diary update is delayed today. IRFC price for your portfolio seems to be fine, same as you have traded. If any issue, please DM @iamshrimohan and he will review the same.

@Pjhcst have send you the calculation on Dm, please check.

@iamshrimohan any update?

Hi @encore The transactions were rejected by the exchange, not by Dhan. Let know if you want us to review anything else.

Can you ascertain the reason why they were rejected by the exchange?

The rejection message that was received from exchange - it states it was not allowed to trade at that moment.