What is Process of New Direct SIP Order in Coin

Zerodha Coin - Direct MF
1

Hi

Yesterday I have created some Direct SIP orders. But still all orders in “pending execution” when the order will be completed.

Can anyone explain Ordering Process in Coin.

Screenshot from 2017-11-22 09-53-40
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Thanks,
Mani.

2

Unlike buying stocks MF orders aren’t processed immediately. If you placed an order before 1.30 PM yesterday and if you had enough funds in your account then the orders will be processed today. IF not then the next day. You will get an email confirmation from Zerodha with the units and alotted price.

3

It will take upto 2 working days for the MF units to get allotted to your account. So just wait till tomorrow or the day after to see these units reflect in your account.

1 Like
4

Thanks @Sanket and @arunnene2.

Let wait for two more days.

Is that any information or instruction available about this in Coin?

5

Hi @manikandanthangaraj If u placed order after 1:30pm . You will be getting next day NAV.
Pending orders will be sent to the exchange for processing at 1:30pm on a trading day. If there is a holiday, the order will be moved to the next trading day. Balance will be checked before order is sent for processing at 1:30pm on the trade day.

1 Like
6

Hi - I understand that the order will be placed on the next trading day - but when does the final allotment happen? For example I placed an order on a Saturday - so by Monday the order has gone to AMC. So do I get the NAV of Monday? And when do I see the units allotted to my demat?

Also - how will it work for SIP? There we will get NAV of the day on which SIP SI is set for - is that the right understanding?

7

If you have placed order before cut-off time, units will be alloted to you at that days NAV, you you place order after cut-off time then units will be alloted at next working days NAV as this is when the order will get executed. You can read this for more info.

The units of Mutual Fund you purchase are credited to your Demat account on T+1 day. For example, if you placed an order on Monday before the cut off time, the units will be allotted to you by Tuesday end of the day.

For SIP, NAV of the day on which SIP is set for is applicable.

8

This helps! Thanks!