(Resolved) New SME IPO rules on Dhan

Need Help ℹ️ Query Resolved!✅
,
1

Hello

@PravinJ @Dhan

Not able to place IPO orders. (of Meta Infotech)

As per new SME IPO rules, retail orders must have minimum 2lots.

And sHNI starts with minimum 3 lots.

If I place 2 lots for retail then DHAN web does not allow it. Because price exceeds 2lakhs and your system does not accept retail orders > 2 lakhs.

If I place 2 lots for HNI then IPO systems do not allow it because sHNI order can not have 2 lots. (must have atleast 3 lots)

So overall I can not place an IPO order. Neither as retail nor as sHNI.

Please update your systems for new SME IPO rules.

Thank you

2

Hi @amish

The Individual Investor category includes both Retail and HNI investors.

As per the new guidelines, you can’t apply for just 1 lot anymore. The minimum is 2 lots, and if the amount goes over ₹2 lakhs, it’s treated as an Individual Investor application (which is considered HNI).

Even though the exchange now treats it as Individual Investor – the rules that apply are the same as HNI. That means: You can’t cancel or downgrade your bid after applying. That’s why, on Dhan, we show it as an HNI bid, even though the exchange calls it Individual Investor.

You can read more here:
:link: Update on SME IPO Rules

3

Yesterday I was not able to place IPO bid. Neither with Retail nor with HNI.

But anyway.

My point is that your IPO page needs modification:

image
image390×673 25.9 KB

  1. It should now show 2 lots by default, as 1 lot is no more allowed.
  2. If Retail checkbox is clicked. And I try to increase lot to 2 then it gives error. So for SME IPO retail checkbox should be disabled completely.
  3. In other words, it should automatically select HNI and by default keep it as 2 lots.
  4. In short Retail checkbox should NOT be enabled at all to avoid confusion. As that option no more works.

Please try it yourself to know what I mean.

Thank you.

4

Further, SME bidding closes at 4PM.

I was trying to place bid at 4:50PM or so.

Your IPO page needs to take this in to account and stop accepting bids after 4PM. And indicate the same on IPO page that - bidding is no more allowed.

5

Hi @amish, thank you for highlighting this, IPO order window optimisation is already in progress, and it is expected to be released in the next build.