Sell fractional liquidbees units

Zerodha
1

How can I sell fractional units in my demat account with zerodha?

2

Quoting from the AMC guide.

instructions to Unitholders:

  1. Unitholders who hold fractional Units of the Scheme in their demat accounts should transfer the
    fractional Units by submitting an off-market delivery instruction slip (DIS) duly filled and signed to
    their respective Depository Participant directly. The Unitholders should use appropriate off market
    transfer slip (intra depository off market transfer slip if the Unit holder holds a demat account with a
    CDSL Depository Participant (DP) and an inter depository off market transfer slip if the Unit holder
    holds a demat account with a National Securities Depository Limited (NSDL) DP) for this purpose.
  2. The Unit holder should transfer the fractional Units of the Scheme to the CDSL account of the
    Scheme, details of which are mentioned above.
  3. The DP will execute the transfer of fractional Units from the Unit holder
    ’s
    demat account to the
    demat account of the Scheme (Target Account).
  4. The AMC / Registrar will track the Units received in the Target Account and once sighted, the
    fractional Units will be considered for Redemption as on the date of receipt of such fractional Units in
    the Target Account.
  5. The AMC/ Registrar will obtain the bank account details of the Unit holder from the Depository
    database and the Redemption proceeds for the fractional Units will be paid / credited to such bank
    account of the Unit holder.

Please note the following:

  • Under this facility, the Unit holder can offer only fractional Units of the Scheme for buy back. Incase
    the Unit holder transfers whole Unit(s) then the same will be transferred back to the same demat
    account of the Unit holder from where the fractional Units were received. E.g. If the Unit Holder
    transfers 1.568 Units to the demat account of the Scheme, then 0.568 Units will be considered for
    Redemption and remaining one (1) Unit will be transferred back to the demat account of the Unit
    holder from where the fractional Unit was received.

  • The Redemption proceeds for the fractional Units will be paid to bank account of the Unit holder
    registered with the DP.

1 Like
3

Can we do this process online? As cdsl has the facility to transfer share.

@Bhuvanesh @siva

4

@Nakul Can you check.

1 Like
5

Hey @pankushri, there is an option to redeem your fractional units of liquidbees online by transferring the units using CDSL’s easiest facility. However, you won’t be able to see any of your other holdings as long as the easiest facility is active for your account. You can rasie a ticket with regards to this and our team will help you out with more information.

Alternatively, if you have given us the POA for your demat account, you can raise a ticket with us to place a redemption order for these fractional units. Someone from our MF will get in touch with you and place the order on BSE Star MF.

3 Likes
6

Thanks for the update.

7

Thanks for your reply @Nakul.

As described by you, I raised a support ticket but the ticket was closed saying that there is no online way to redeem the fractional units and the only way is offline through the DIS slips.

Will it be possible for you to help me out here? What can I do to avoid the paperwork for a few rupees worth of liquidbees during covid times?

Thanks a lot! :slight_smile:

1 Like
8

Hey @anp, can you provide the ticket number you have raised? I’ll have someone from our team contact you and help you out.

9

Ticket #20200907798858

10

Our team will contact you soon regarding this.

11

Unit sold?

12

Waiting for communication from Zerodha.

13

HI, Is this done? I a m waiting for your reply so that i can also unpledge and sell.

14

Hi, even I am having a few fractional quantity of liquid bees. Any way to redeem them online? I have given the POA to Zerodha.

15

@Nakul I’ve DDPI activated. Can you help me sell the fractional units of LIQUIDBEES?

16

You can redeem fractional units of Liquidbees online through CDSL Easiest or offline through DIS. We’ve explained the process here.

17

Please read my post again. The linked post doesn’t explain the process in detail.

18

Fractional units can’t be sold on the exchanges through Kite. The way to do this is the process explained in the link. DDPI has no bearing on it.

19

This link has nothing that helps a user to sell fractional units. The off-market transaction involves certain steps, including payment of stamp duty, which the said post doesn’t explain.

Very pathetic and robotic response by Zerodha.

In one thread, a representative of Zerodha told a user that if POA is with Zerodha they can help sell the fractional units through BSE STAR MF, hence I asked if a DDPI user can do the same. But nothing good is expected from Zerodha’s customer care it seems. Glad I moved out to another broker. Only the fractional units remain which I will sell this week.