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How long will it take for the mutual fund units to show up in my DEMAT account?

The allocation of the mutual fund units will be in demat form and it will take up to T+1 day (1 trading day)

For example, if you placed an order on Monday before the cut off time (1:30 PM) the units will be allotted to you by Tuesday end of the day.

The NAV at which the units will be allotted is the NAV of the trade (T) day. In the above example, the allotment price for the units will be Monday's NAV.