Orders placed are rejected when on Dhan for a Special Pre-Open session for IPO. Between 9.15 - 9.45 am. Please support it.
It happened for me for Risabh Instruments IPO and your team was not able to figure this out from Dhan Order ID. I’m going to try to place another order in pre-open session tomorrow for Jupiter Hospital. I hope your team can investigate that.
Hi @msj We have enabled trading in IPO for when trading opens at 10:00 AM in regular trading sessions. Will explore if pre-open session is required, this is first time anyone ever requested for this.
Hi @PravinJ Thanks for your reply! I know many people on Zerodha including me who regularly use this feature. I have moved this topic to the feature request category.
Will check on feasibility of this. We have been doing IPOs for nearly 2 years, this is the first request.
I recently opened Dhan account.
And I was expecting that order placing in Pre-Open for IPO is already supported.
Pre-open in IPO many times fetches great returns sometimes 50%+ returns. (and then stock price falls down many times - giving less profit)
Zerodha, Upstox and tons of brokers support this. IPO pre-open market is very very active market in that specific time.
Please activate this as early as possible. Because I have started giving DHAN Demat numbers for all IPOs that came last week. Sooner or later I will definitely be alloted some share by some IPO. And I prefer to sell the shares during Pre-opening.
PS: I wonder why noone ever asked for this!
I also need this feature as do many others that I know.
Most of the IPO investors (retailers) I know want to sell the IPO on the same day at listing time and the best way is usually in the pre-open session.
I have both Zerodha and Dhan accounts but when I apply through IDFC Bank’s ASBA, I select Zerodha demat as they allow selling in pre-open session.
We have enabled for this IPO. You can place orders now @amish @msj @encore
Just for example: (for this JLHL)
IPO listing was for 735 per share
IPO opened at 973 per share just few minutes back.
If you opted for small HNI (sHNI) category. It will be total lot of 280 shares.
Your buy price on 14th September - 280x735 = 205800
Your sell price on 18th September - 280x973 = 272440
So just in 5 days you make > 65000 i.e. 32%
So this is very lucrative. Ofcourse there are times you can make losses too.
But the point I am trying to pitch is that Special Pre-opening session should be allowed for all shares. Not when a request arrives.
So please make this a default.
As IPOs keep coming every week these days, hope you have enabled Special pre-opening for all IPOs.
And we will not have to request everytime for each IPO that we got allotment.
Please do the needful
Please enable RR KABEL for special IPO pre-opening session.
Please enable before 9AM as session time is from 9AM to 9:44AM (random closure after 9:44AM)
PS: This is would be my first transaction with Dhan. Hope it works well and I start with some profit. Fingers crossed. (Family member account)
@PravinJ can you please confirm if you have enabled placing limit orders during the pre-open session for ALL IPOs? (9 am to 9:45 am)
@JayK can you discuss with the team and confirm my above question as @PravinJ seems to have missed the follow-up comments.
Hi @encore Yes, pre-open session is now enabled for all IPOs. And only limit orders are accepted by exchanges during this time.
I had reported a bug (I cant find that post) that special pre-open session worked from 9AM to 9:07AM and then stopped working from 9:07AM till 9:15AM and then after 9:15AM it start working again (when market opened again)
Is it fixed?
Timings for special pre-open session for IPO is 9AM to 9:45AM
Timings for normal pre-open session is 9AM to 9:07AM
It looks like your system is mixing timings for special pre-open and normal pre-open + normal market hours.
Please get it checked.
PS: Also tagging @iamshrimohan because I think I had reported bug to him.
@amish As said in the DM, I have reported the bug to the Tech team, will get this fixed. Will update on this thread once done.
Thank you so much. Yes, I’m aware that only limit orders are accepted for pre-open IPO listings.
I’ll now apply for IPOs with Dhan’s demat rather than Zerodha’s.