Mutual Fund (MF) Order:
There are two types of order in MF i.e. Buy order and/or Sell order
Sell order is also termed as 'Redemption'
MF Buy order and Sell order has the following cut-off times:
Buy order - till 2:30 pm
Sell order - till 2:50 pm
How it works:
When you place the MF order within cut-off time, it is considered as ‘T’ day i.e. Trading Day.
When you place an order on ‘T’ day it will be in ‘Open’ status which means order is placed successfully on the Exchange.
Further the order status will move to either ‘In-process’ or ‘Placed’ status. These indicate that the order is moved from Exchange to RTA (Registrar and Transfer agents)
After this your order will be ‘Success or Failure’ on T, T+1 or T+2 days (anytime).
In case your MF order does not show proper status till T+2 working days, you can reach out to us.
Note: You need to wait for T+2 working days to get clarity on your MF order status before reaching out to us.