Unable to cancel Coin MF order after settlement processing, even though NAV not allotted yet

[Arpit_Gupta2]

I placed a lump-sum mutual fund investment via Zerodha Coin (Quant Small Cap & Motilal Oswal Midcap) using net-banking at around 9 AM yesterday.

The order status shows “Settlement processing” and the Cancel option is still visible.
However, when I try to cancel, it throws the error:

“Members cannot cancel after settlement process”

At the same time:

• NAV is not yet allotted
• Units are not visible
• Market has moved up the next day, causing confusion about whether the NAV is locked or still pending

My questions:

1. Why does Coin still show a Cancel button if cancellation is technically not allowed after settlement?
2. Does settlement processing mean NAV is already locked, even if it’s not displayed?
3. Can Coin improve the UI or messaging to clearly indicate point-of-no-return for MF orders?
4. Is this behavior expected for all equity mutual fund purchases via net banking?
5. Why was NAV for yesterday not allotted to me?

Requesting clarification so investors don’t panic seeing price movement when NAV/units are delayed.

[Arjun_Oberoi]

Hi @Arpit_Gupta2, we have explained how the cancellation flows work and future update on other thread here:

Zerodha Coin order payment and then cancellation

When you place an order on Coin, the cancellation option remains available until the order is allotted. However, whether the cancellation actually goes through depends on the payment status at the exchange. Your payment goes through these steps: 1. You pay via netbanking and the amount is debited from your account immediately 2. The payment aggregator collects these payments and reports them to the clearing corporation in batches (typically at 10 AM, 12:30 PM, 2:30 PM, 6 PM, and 10 PM) 3. On…

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Is this behavior expected for all equity mutual fund purchases via net banking?

It’s applicable across all payment modes, including UPI. Once the payment is reported and mapped to the order, the Exchange does not accept further cancellation.

Why was NAV for yesterday not allotted to me?

For equity schemes, the order status and units settlement to the demat account happen by the end of the day on T+1 day. Read more.

If units still don’t reflect, please DM me your client ID or ticket number, and we’ll look into it further.