Regarding unpledged quality

[Kiran_Gumraj]

Hi team,

I have certain qtys of hdfc money market fund, which I pledged… I unpledged few quantity of the same on jan-3… and got confirmation from cdsl on jan-3( please see attached). But today that is jan-4, I am not able to sell the same… please let us know when it will be allocated to my account before selling… this will ensure for better planning in future… thanks much.

Ticket number- 20220104300738

[Jason_Castelino]

Faced this problem few days back. If you try to place redemption order before 9am it will say insufficient units. So I tried again around 11am and it worked. Not sure of the exact time when we should place order.

[Meher_Smaran]

Hi @Kiran_Gumraj

If you have placed an unpledge request before 3:30 pm, the stocks will be available in the DEMAT account for trading on the next day, and if you have placed a request after 3.30 pm. The stocks will be available in DEMAT for trading the day after.

How do I unpledge shares?

For Mututal funds, If you have placed an unpledge request before 2 PM, the mutual funds will be available in the DEMAT account on T+1 day, and you will be able to redeem on the T+2nd day from Coin. If you have placed a request after 2 PM, the mutual funds will be available in Demat for trading the day after, and you will be able to redeem them on the T+3rd day.

How can I pledge my mutual fund investments to get margins?

Would request you to follow up the query with the ticket that you have shared if the query remains unresolved as our team will address your query in detail.

[Jason_Castelino]

Mere copy paste response.

He is clearly asking about units of a mutual fund and you taking about stock unpledge. Even after receiving confirmation from CDSL its not possible to place redemption request in Coin till at least 9AM. It says insufficient holdings. And if its tried again later it works. I tried at 11AM again and it worked.

[Meher_Smaran]

Hey @Jason_Castelino

Thanks for pointing out the error in my previous message.

For Mututal funds, If you have placed an unpledge request before 2 PM, the mutual funds will be available in the DEMAT account on T+1 day, and you will be able to redeem on the T+2nd day from Coin. If you have placed a request after 2 PM, the mutual funds will be available in Demat for trading the day after, and you will be able to redeem them on the T+3rd day.

I hope the query is resolved now.

[Jason_Castelino]

Redeem Pledged Mutual Funds

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. [Screenshot_20211201-080205] It’s showing insufficient units. Now do I have to wait for one more day to redeem? Who looks into these things at zerodha? Because this has to be done before the cut off time. @siva @ShubhS9

This was what I raised few days back. It went unattended and I resolved it myself.

We stopped raising support tickets because we get copy paste answers over there. Looks like we will get similar answers here too.

[Meher_Smaran]

As @Neelesh had mentioned in the previous post, you can sell the unpledged mf units on T+2 days (if unpledged before 2 PM on T day), If unpledged after 2PM, you can sell it on T+3 days.

This is currently the standard industry practice (for redeeming the unpledged mutual fund units)

We are constantly looking to make the User experience seamless and will definitely try to improve.

We assure you that your valuable feedback will not go unnoticed and we will try to improve our support ticket interactions. Thank you once again. You are a valued member of tradingqna community and we look forward to more feedback from you to improve our products and services.