Update:
I submitted a new transaction with new BOID today.
Guess what… it’s moved to “Settled”.
So hopefully, all is going as expected. 
Here are the details that I used.
DP ID : 12049200
Demat Account No. : 1204920007473879 (BOID)
Account Name : NIPPON INDIA MUTUAL FUND
DP Name : AXIS SECURITIES LIMITED
Depository: CDS
Link to the Nippon Liquibees redemption details: https://investeasy.nipponindiaim.com/rmfGsamnew/documents/FacilityforbuyingbackfractionalUnitsofLiquidBeES_new.pdf
One suggestion. Zerordha can point to the direct link instead of copying the document.