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Dhan IPO Apply 2024

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Dhan Broker offers its clients an easy, hassle-free, and convenient way to submit an IPO application online. If you have a trading and demat account with Dhan, you can apply for an IPO online through UPI (Unified Payment Interface) on Dhan's mobile app or website. Buying an IPO online with UPI is really easy as the process hardly takes 5 minutes to bid for an IPO. If you want to subscribe to an IPO on Dhan, read the step-by-step guide on how to apply for an IPO in the Dhan app/on the web with UPI and without UPI (ASBA net banking), brokerage charges, and how to check the IPO allotment status.

Dhan IPO Apply

There are two ways to purchase an IPO, either through your broker or through Internet banking. If you have an active trading and demat account with Dhan, you can conveniently apply for an IPO through one of the following methods;

  1. Apply for an IPO through your broker by using a UPI payment gateway feature
  2. Invest in an IPO through net-banking ASBA

Apply for IPO in Dhan app through UPI

UPI is a virtual payment address on any UPI app like Google Pay, Phonepe or a bank's app. If you are an active UPI user, investing in an IPO with UPI has never been easier. The process allows customers to invest in an IPO with ease and simplicity.

  1. Log into the Dhan mobile app.
  2. Go to the "IPO" option available under the"Money"
  3. Now check all the current, upcoming, and past IPOs and click on the "Open Now" tab.
  4. All the ongoing IPOs are now available.
  5. Click on the "Apply Now" option for the IPO of your choice.
  6. IPO details such as timeline, issue size, price, lot, etc. are now available.
  7. Tap on "Bid for IPO", enter the lot size and select the cut-off to place an IPO order at the cut-off price.
  8. Now enter your UPI ID (virtual payment address) linked to your bank account to place a bid for IPO.
  9. The IPO application will be submitted and you will receive a mandate request on the UPI app.
  10. Accept the UPI mandate to authorize payment of the IPO application.

Dhan IPO Apply through ASBA Net Banking

Do not worry if you do not use UPI because you can still bid for Dhan IPO through the ASBA Net Banking facility without using UPI. The ASBA process allows Dhan customers to subscribe to an IPO through their net banking portal. However, you must have a demat account with Dhan to receive the allotted shares.
Whether you have an account with a bank like ICICI, HDFC, SBI, Axis, and Kotak, you can invest in an IPO online by providing your Dhan demat account details.

Steps to invest in IPO in Dhan through ASBA;

  1. Log into the net banking portal of your bank.
  2. Search for the IPO option.
  3. Select the IPO in which you want to invest.
  4. Enter details such as the number of shares or lots, price, and category, and provide Dhan Demat account details.
  5. Review and submit the IPO application.
  6. Once the order is submitted, the money will be frozen in your bank account until the allotment is completed.
  7. If allotted, the allotted shares will be credited to your Dhan Demat account; if rejected, the bid amount will be released for the IPO.

Dhan IPO Apply Charges

Zero, there are no charges to subscribe to an IPO through the Dhan stock broker. Dhan clients who have demat and trading accounts can invest in IPOs for free. The broker facilitates customers to apply for IPOs through the Dhan app or web platform.

Dhan IPO Allotment Status

Once the IPO registrar announces the allotment of shares, you will receive a message and email about it. You can check the allotment status on the registrar's website by simply by selecting the company name and providing your PAN number.
The Dhan app and website will also show the allotment status in the "My Bid Details" section as "Allotted" with the number of shares. For example, if you do not receive any shares, the status will be displayed as "Allocation: 0".

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Last Updated on 14th Sep 2023


Yes, Dhan stock broking firm allows users to apply in both the main board as well as SME IPO on BSE and NSE. SME IPOs are available under both the Dhan mobile app and website. SME IPO is the first-time share sell offer by a small and medium-sized company to get the securities listed on either BSE SME or NSE Emerge platform.


Yes, Dhan brokerage firm allows users to invest in IPO for Free. If you have opened Dhan investment account then you can purchase IPO online using Dhan web or mobile app. Notably, you can only purchase IPO through Dhan in the retail category as the IPO investment facility is not available to HNI clients.


Follow the below process for applying IPO in Dhan App/Web using UPI

  1. Login to your Dhan mobile app or website using your trading and demat account credentials.
  2. Go to the IPO section and select the IPO you want to apply for.
  3. Enter the number of shares you want to apply for and the price you want to bid.
  4. Choose the UPI ID linked to your bank account and authorize the payment.
  5. Confirm the details and submit the IPO application.


Dhan stock broker allows customers to subscribe to IPO across its website or mobile application. Dhan web is a trading website comfortable to run across any browser.

Steps to apply in IPO on Dhan website;

  1. Log in to the Dhan web trading portal.
  2. On the top menu bar, visit to the “Markets” tab.
  3. Now, click on the IPO option in the right side.
  4. Pick the IPO for which you want to apply.
  5. Enter lot size, price or choose to apply at cut-off price.
  6. Enter UPI address and approve the payment mandate on UPI app.


Once an applicant has successfully placed the IPO bid on Dhan web or app, the order will be sent to the exchange and then the exchange will send bid details to the sponsor bank to send the UPI mandate request. The process may take a maximum of 24 hours to send the payment mandate on your UPI app. If you have not yet received the request, cancel the bid and apply again.


To check the IPO order placed in Dhan mobile app, log in to the app, go to the “Money” section at the bottom-right corner, and click on “My Bids” under the IPO tab, the IPO order status will be displayed as the payment confirmed, rejected, allotted, etc.


No, High net-worth individuals (HNIs) cannot apply in IPO through the Dhan trading account. The discount broker only processes IPO applications in the retail category who bid for less than Rs 200,000.


Dhan users can cancel IPO orders anytime before the mandate is accepted means bids can be deleted for the IPO for which payment is still pending or under process.

  1. Log in to the Dhan trading account on app or web.
  2. Go to the IPO option under the “Money” (on app) or “Market” tab (on the web).
  3. Visit the “My Bids” Section, and click on the IPO.
  4. On the next page, tap on the “Cancel Order” option to proceed with the cancellation request.

Note: You will not be able to cancel the IPO order, once the mandate is approved.


Once IPO allotment is done, allotted shares will be credited to the Dhan Demat Account. IPO shares will be reflected as holdings in the Dhan Demat Account on the day of IPO listing. Once listed, you can place a normal sell order to sell shares on the exchange.