So now you are agreeing that the problem was from your side. Because you didn’t have the API based order placement currently, our orders got rejected. Are you playing some kind of trial and error with customers?
I waited for two days before filing complaint with SEBI as Zerodha acted like a immature offline broker for last 2 days.
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Please give monetary compensation for non allotment of shares due to your technical glitch. Check if the order is eligible for allotment with the allotment price displayed by exchange. Or kindly credit shares by purchasing from market immediately.
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All …i request to please raise complaints with SEBI online portal. Else this puppets will not act sensibly
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hey shravan, we’ve been using the file based system and have been placing orders for all OFSs. It’s just this time since the number of orders were high, that the Exchange system did not accept the orders.
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Hi Team zerodha,
Offering services at a best price shouldn’t come at a cost of comprising the service quality for customers.
This is not the first time we zerodha customers face these issues.
What is point of trading with zerodha when it’s unrealible when needed, these things make customers lose confidence in trading system. rather on concentrating on increasing customer base, I would suggest zerodha to work on improving service.
I have lodged a complaint against zerodha for the service glitch. Hope SEBI takes up the matter more seriously.
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Any chance you are going to repeat the same mistake again ? NTPC Buyback is the next big thing ! Should i be worried ?
The buyback process and OFS process operate differently.
@VenuMadhav, From Zerodha side, Any one is accountable to answer or provide synopsis of what exactly went wrong with Zerodha. How others systems are reliable and not yours ? Or all are hiding, now as they have to pay the price for the negligence from their part?
As I said, it was to do with the size of the order - the number of orders being placed. Since the number of orders were high, the systems did not accept the order. There are dependencies on systems that aren’t in our control. We tried our best to place these orders within the timelines but weren’t successful.
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Fine, Let SEBI sort-out this stuff. Can you a provide me following details? How many orders from Zerodha were accepted and how many were not? In retail category, it was over-subscribed then Can you provide me information of how many shares got allotted in total, when your are saying Zerodha orders didnt went through ?
I’m sorry Krishna, I will not be able to provide information on a public site.
@Venu.Madhav - Can you confirm whether all orders of clients got rejected or partial rejection? Need an answer… You don’t reveal number of orders and quantity in public. But please give basic answer
Technical issues happen between broker and exchange. But why everytime customers have to pay price for that ? Atleast take responsibility and compensate your customers or make exchange responsible and ask for compensation.
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True that,The issue was either with you or with the exchange. We just believed that our orders would be placed, Damn… But if this is how you treat an failure of your system by letting your clients figure out the problems while you are hiding out in the dark, It won’t be a very good outcome for you all.
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So that means ,Even after completing all the regulatory requirements like making my margin available and placing the order well before the cutoff time,You expect your clients to follow it up raise a ticket ,tweet and post in this forum to know that their order could not be placed because the broker was’nt capable… You wouldn’t be happy if this happened when your money was in the line right? It was our money and our orders and you just let it go?
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“Even Elephants do slip” , Zerodha on IRCTC OFS Failure…
Nice to see Nithin accepting this technical glitch, but You have set a High standard, People’s mind does not accept to this failures from Zerodha, again even a mighty elephant can slip…
Trust cannot be earned from cheap people, I hope Zerodha will earn more trust by accepting their mistake, apologizing, rectifying it & not make similar mistakes.
Opportunities are always there in Stock market, lets focus on next opportunity, instead of worrying on past.
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Dear all,
If You all really want to raise issue with proper manner, file complaint with SEBI.
I have neither received any rejection email nor any updates from zerodha. What’s going on
Me Too, Filed a complaint with SEBI Let’s see what happens
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