IPO cannot be subscribed through Zerodha. But we can subscribe for IPO through ASBA and link it with zerodha trading account and can sell it in kite. Likewise mutual funds also have NFO which I presume cannot be done using zerodha(coin). But can we link it later so that it gets displayed in zerodha dashboard like in IPO case.
You’re presumption is correct, you cannot apply for an NFO on Coin. You’ll have to directly apply for it with the fund house. While applying, you have to enter the correct folio number of the fund. Along with it, you’ll have to mention your Zerodha beneficiary account number(DP ID + Client ID). If you receive the allotment of the fund, then these units will directly be credited to your Zerodha Demat.
After this, the MF units will be present in your Zerodha Demat account. It will not display on Coin as it wasn’t purchased there but it will show in your Holdings statement.
Ensure you’re aware the type of fund you are applying for, if it’s close-ended then you cannot sell the units until maturity date.
Thanks for your reply. I have a few more basic questions.
What is the benefit of having the “the MF units will be present in your Zerodha Demat account. It will not display on Coin as it wasn’t purchased there but it will show in your Holdings statement.”?
How will I be able to sell them? Through the fund house or Zerodha?
How to I get my folio number
Yes, you will have to redeem your units directly with the fund house.
You cannot redeem the units from the AMC website as the units would be in demat form so the AMC too would ask you to contact your DP. Since, Zerodha itself is the DP, hence you can write us an email to redeem the units. But, yes currently such units purchased on the AMC’s website will not be visible on COIN or Q.
I don’t have any portfolio in mf
Can we expect NFOs trading to be part of Coin in the near future? I am asking this because I don’t want to maintain another demat and trading account with another broker just for NFOs. It would be a huge relief.