You will get an SMS from CDSL when the credit happens. In the meanwhile, you can check your allotment status here.
Well then it must be that you didnât get any allotment. I got an email from ICICIC that you have been allotted (no.of units) at Rs. 35.97/unit
I didnât get any confirmation from Zerodha.
Units got allotted @35.97
below is some portion of email
Dear Investor,
Greetings from ICICI Prudential Mutual Fund!
We thank you for choosing to invest in the BHARAT 22 - ETF scheme, managed by ICICI Prudential Asset Management Company Limited.
We are pleased to inform that you have been allotted units as per the details given below and units will be credited to your Demat Account Number XXXXXXX within 2 business days of allotment, subject to necessary verifications.
Relax, you will the get the units. Not all agencies credit the units at the same time. Like I have responded to another query, you will get an SMS from the depository when the units are credited.
Well now got a call from Zerodha. Apparently, my order wasnât placed because my funds were low(applied for 20k, had funds of 4k+). When I asked them about this 0.05% charge, they said it was only if the difference in funds was less Rs.1k. But there was no mention of this Rs.1k limit anywhere on their website. And forget everything, I wasnât even intimated about it the same day that my order wonât be sent. Otherwise I would either added funds or placed the order through my other demat account.
Well, makes sense to me. If you go shopping and there is no money your bank account you canât expect the shop to call your bank to inform you that there as no money in your account. NFOs are just like IPOs bro NO money = No honey.
If I was applying and If say I had a shortfall of say 500 bucks it would not be fair for my order to be rejected. If that happened I would be complaining just like you.
But at the same time maybe Zerodha canât make it obvious because everybody will start applying without money like you. Why will they foot your bill.
I do understand that itâs like IPO. But they had clearly mentioned that 0.05% per day will be charged on their website in case of insufficient funds. And the same was mentioned here too.
Why will they foot your bill
Itâs not like they are doing it for free. They are anyway charging 0.05% for the shortfall amount.
Ya, I read it and I had applied too but I maintained full funds in my account because I wouldnât have start complaining later. Better safe than sorry. I am just guessing, if you were Zerodha would you make the fact obvious that small shortfalls are ok? But at the same time rejecting them is also a bit unfair. Anyways tough luck, hope that the ETF has a negative listing and buy it the open market.
I got msg from CDSL but how to check it ? Will it show on holdings ?
Sit back and relax. The units will be directly credited to your demat, you donât have to do anything.
@Archisman_Das Yes! the units will be visible under your holdings on the day of listing and not before