Suppose the order has been placed before the cut-off time, the units will be allotted at that day’s NAV - the day on which the order was placed and executed.
If the order was placed after the cut-off time, then the units will be allotted on the next working day’s NAV - as the order will get executed on the next working day.
Note: MF buy order and sell order has the following cut-off times:
Buy order - till 2.30 PM
Sell order - till 2.50 PM