I had 1 lot of Coromandel-EQ that has September 30 expiry. I was in loss so I thought of taking the physical delivery. I had enough funds in my account. I thoughts the shares would be credited in my account on T2, but today I got an email “Your purchase of 625 quantity of COROMANDEL-EQ was short delivered.”
How that happened? There were both sellers and buyer for that particular stock. Now will I have to pay the huge penalty for this? This really socks.
Short delivery happens when seller of stock doesn’t have sufficient quantity in his/her account. You don’t have to pay any penalty, this is applicable on seller. You can check out consequences of short delivery here:
I just got the 7 shares out of 625. I emailed the support, and they said seller has defaulted the delivery. It will T+5 days to get all the shares in my demat. Fortunately, share (Coromandel) is doing well.