I think so it will get rejected. Not sure though.
It will get rejected.
Once I was in dire need for cash to cover some positions, and sold my liquid fund without realising the fact that half of it was pledged. The order got rejected as a whole and even the unpledged portion was not redeemed. Had to sell something else to take cover.
Either zerodha should directly unpledge and sell if someone puts a sell order for such entities, or they should show a “nudge” once u place sell order without unpledging.
Then i am in a fix. If I unpledge my cash will go negative for a day. At least if its stock I can sell it at open and at least use 80 percent of cash. Here the process will take 2 days. First day to unpledge. And the next day to sell.
Yes, the order will be rejected from the RTA as the units are pledged. On the coin V2 we are adding a feature where we will show the pledged quantities and you will not be able to place a redemption request if the units are pledged.
Yes, here it will take 2 days, because first the units will get unpledged from the depository and then you will place a redemption request that will be processed to the RTA, as per the settlement time the amount will be credited to your trading account
Now I started to unpledge part by part. Got this msg yesterday at 5.30
CDSL: Unpledge accepted by pledgee a/c *000000 on 30/11/2021 for 214 shares of ADITYA BIRLA SUN LIFE AMC LTD#ABSL
Today when I try to place redemption request this is what I get.
It’s showing insufficient units. Now do I have to wait for one more day to redeem?