India has witnessed a major IPO boom in the recent two years. IPO (Initial Public Offering) are the means through which companies get publicly listed on the stock market to raise capital. It gives investors the opportunity to invest in new companies across various sectors at lower prices and reap the benefits when the stock prices go up. In an IPO stocks are bid for using a demat account. Dhanush allows you to apply for an IPO directly through its web/app medium and the entire process is accomplished in a matter of a few clicks or taps. Here are the simple steps you need to follow:
Step 1: Log in to the MyDhanush app or web portal.
Step 2: Go into the Profile Menu that is located on the left-hand side of your screen and tap the hamburger icon (3 horizontal lines one on top of the other).
Step 3: Tap on the ‘Apply IPO’ option to open the IPO bidding window.
Step 4: Choose the IPO in which you wish to invest by tapping the ‘Apply Now’ button.
Step 5: Enter your Bid details in the subsequent screen and tap on ‘Buy’
Step 6: You will now need to enter your UPI ID to block the requisite amount for the payment of the IPO application.
Step 7: Authorise the payment request on your UPI app.
Step 8: The Bids placed will appear in your ‘IPO Orderbook’
Note: If you are not allotted the shares, the amount is reverted to your UPI linked bank account in a matter of a few working days.