Dear Investors,
At Dhan, we believe in building a complete investment experience for you. We have continued to build features and product offerings for Investors with a long-term perspective.
Lots of you love how simple it is to invest in IPOs with us - just 3 taps on your Mobile Phone. In the last year, 2023 that witnessed a big IPO season, our users gave us a thumbs-up for how easy it was to invest in IPOs.
Now, we have gone ahead and incorporated user feedback on IPOs on Dhan and introduced two of the most asked features about IPOs - Pre-Apply for IPO and View Subscription Status.
Introducing Pre-Apply IPO:
Pre-applying for an IPO means you can submit your IPO bid application in advance to Dhan, before they become officially available. As soon as the IPO window opens on exchanges, your Pre-IPO applications are sent to the exchange by Dhan. The exchange then sends the payment block mandate via UPI to the user (after the IPO window opens for subscription) & the same needs to be accepted by the Investor before the IPO ends.
The pre-application window will usually open one or two days before the IPO date, offering early applications to those who don’t want to miss on the opportunity. The chances of allocation remain the same regardless of when you apply! Main Benefit of pre-applying is you don’t have to rush during Market Hours – do it when you have the time!
How to Pre-Apply for IPO on Dhan
So here’s your handy guide on Pre-Apply for an IPO -
- Login to Dhan mobile app
- Tap on IPO (from Home Screen or in the Money section > IPO)
- Under the Open Now section, you will see IPOs that are Open for Pre-Apply on Dhan and also Open for Live Subscription.
- Tap on the IPO to view details and information about the same
- Go ahead and place your Pre-Apply bid.
On applying for the IPO, you can check the status of the applied IPO under My Bids section. And on the date of IPO opening up for subscription, the IPO bids collected by Dhan will be sent to exchanges after 10:00 AM.
The Pre-application window opens depending on the details received from exchange, we will show Pre- Apply as soon as we receive them.
Important Note: Please ensure you keep an eye on the IPO mandate request that you will receive from the exchange for blocking of funds via your respective IPO app. Only post successful blocking of funds via IPO mandates, your bid will be accepted for allotment.
View Subscription Status of IPO
In addition to Pre-Apply we are also bringing in the ability for users to track the IPO Subscription Status across segments for our users on both App & Web.
IPO subscription data refers to the number of shares that have been bid for by investors when the IPO opens for subscription period, it indicates the demand for the IPO and investor interest across segments like - Retail, HNI, Shareholders, Employees
This data is incredibly useful for users as it helps them gauge market sentiment, potential oversubscription, and demand for a particular IPO, aiding in investment decisions. Dhan provides this valuable information promptly, empowering users to make informed choices, ensuring they stay informed with their decisions.
Hope you enjoy a much better IPO experience now on Dhan. Do let us know your feedback and suggestions.
Thank you,
Mahima Shah