I got alloted Yes Bank FPO shares. Can I sell them tomorrow. Because payout will come on Tuesday and shares will be credited in my account by Monday so I can fulfill the obligation of settlement. Is it possible?
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No you can’t, listing of this shares will happen on 27th July. You can sell only after listing.
Hi. I understand that zerodha / icici direct etc are not allowing to sell FPO shares before Monday (listing day). However, I know from smaller brokers that many have sold such shares on Thursday and planning to sell today. Is this some sort of loophole that is being exploited by smaller brokers? If that is the case, people like us will suffer.
@Mikin_Shah well in this case, it is the fault of the broker then. As mentioned earlier,here Unnecessary Trading restrictions at Zerodha , trading should be free. One should be allowed to do any trade provided he has the sufficient margin.
What broker needs is margin, and if client has sufficient margin even for auction then I do not know what is happening with these brokers. They are loosing their brokerage
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You’re not allowed to sell the FPO shares today since they’re not yet in your demat account. Once the shares land in your demat account, they will be updated into the trading terminal on the next working day after reconciliation of your holdings is run overnight.
The allotment of shares in the Yesbank FPO has been confirmed by the RTA on but the shares will tentatively get credited to your demat account today. The IPO timeline is always indicative since there can be delays in the process due to technical or regulatory reasons. If a stockbroker allows you to sell shares before you have them in your account, he’s taking a risk of short delivery and subsequent auction penalties. He won’t be able to determine the margin required for cases of short delivery and the auction penalty since one can’t know the auction price until after its conducted.
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I’ve already received Emails and noti. from NSE that shares have been credited to my A/c. So can i sel them on Monday i.e. 27th July? coz in console it’s still not reflecting the shares.
@mohitmehra by when we can expect it to reflect in zerodha terminal?