What is the procedure to submit the redemption of units in demat form?
In case units are held in physical mode, the investor should ensure that the units are converted from physical mode to demat mode prior to placing of redemption order. Investor who chooses depository mode can place order for redemption as currently followed for secondary market activities. The investor should provide their depository account details along with PAN details to the Trading Member. The investor should also provide their Depository Participant with Depository instruction slip with relevant units to be credited to Clearing Corporation pool account same day before 4.30 p.m. • Where will the investor receive the redemption proceeds through the demat mode? The redemption proceeds will be credited to the bank account of the investor, as per the bank account details recorded with the Depository Participant. • What are the timings for putting orders, which are valid for the same day NAV? Currently, the timing for entering the orders on the respective platforms are between 9.00 a.m
In case units are held in physical mode, the investor should ensure that the units are converted from physical mode to demat mode prior to placing of redemption order. Investor who chooses depository mode can place order for redemption as currently followed for secondary market activities. The investor should provide their depository account details along with PAN details to the Trading Member. The investor should also provide their Depository Participant with Depository instruction slip with relevant units to be credited to Clearing Corporation pool account same day before 4.30 p.m.
