Overview:

  • On a daily basis, the Nippon India ETF Liquid BeES (ISIN: INF732E01037) declares a dividend that is compulsorily reinvested into the scheme

  • Dividend reinvestment results in fractional units. Dividend Reinvestment Units are periodically transferred to the beneficiary account of the Unit holder at the Depository up to three decimals. 

  • As the National Stock Exchange of India Limited (NSE) allows the trading of 1 (One) Unit at a time, so fractional Units of the Scheme cannot be traded.

  • In order to provide an exit option to Unit holders holding fractional Units of the Scheme in their demat account, the Scheme will offer a redemption facility to Unit holders holding fractional Units in Liquid BeES. 

  • The redemption will be processed on the first Business Day of the following week. 


Nippon India Mutual Fund Demat Account Number:

DP ID : 12049200 

Demat Account No. : 1204920007473879 

Account Name : NIPPON INDIA MUTUAL FUND 

DP Name : AXIS SECURITIES LIMITED 

Depository: CDSL 


Instructions to Unit Holders: Non-POA


1. Unit holders who hold fractional Units of the Scheme in their Demat accounts should transfer the fractional Units by submitting an off-market Delivery Instruction Slip (DIS) duly filled and signed to their respective Depository Participant directly. The Unit holders should use the appropriate off-market transfer slip (intra-depository off-market transfer slip if the Unit holder holds a Demat account with a CDSL Depository Participant (DP) and an inter-depository off-market transfer slip if the Unit holder holds a Demat account with a National Securities Depository Limited (NSDL) DP) for this purpose. 


2. The Unit holder should transfer the fractional Units of the Scheme to the CDSL account of the Scheme, details of which are mentioned above


3. The DP will execute the transfer of fractional Units from the Unit holder’s Demat account to the Demat account of the Scheme (Target Account). 


4. The AMC / Registrar will track the Units received in the Target Account and once sighted, the fractional Units will be considered for Redemption as on the date of receipt of such fractional Units in the Target Account. 


5. The AMC/ Registrar will obtain the bank account details of the Unit holder from the Depository database and the Redemption proceeds for the fractional Units will be paid/credited to the such bank account of the Unit holder. Please note the following: 

  • Under this facility, the Unit holder can offer only fractional Units of the Scheme for redemption. In case the Unit holder transfers whole Unit(s) then the same will be transferred back to the same Demat account of the Unit holder from where the fractional Units were received. E.g. If the Unit Holder transfers 1.568 Units to the Demat account of the Scheme, then 0.568 Units will be considered for Redemption and the remaining one (1) Unit will be transferred back to the Demat account of the Unit holder from where the fractional Unit was received.
  • The Redemption proceeds for the fractional Units will be paid to the bank account of the Unit holder registered with the DP. 


Instructions to Unit holders: POA

Investors can also Redeem Fractional Units of the Scheme through the Mutual Fund Service System (MFSS) and the BSE Star MF platform/facilities provided by the NSE and BSE respectively.