Answer
Yes, you can apply for IPOs as a High Net-Worth Individual (HNI) on Dhan. During the IPO application, you can choose the HNI category. You can also set up “Super IPO” to automatically apply in the HNI category with your chosen lot size and criteria.
Key Details for HNI Application on Dhan:
- Category Selection: In the Money > IPO section, select the HNI category instead of Retail.
- Amount: The HNI category is for applications over ₹2 lakhs.
- Mandate: Accept the UPI mandate on your banking app, as HNI bids cannot be cancelled once placed.
- Allotment: HNI allotment is based on proportionate demand, not a lottery system like for retail.
Disclaimer: While general support documents mention HNI functionality, check the specific IPO’s allotment guidelines in the Dhan app when bidding.