Can I place multiple purchase or redemption orders in the same mutual fund scheme on the same day?
The cut-off time for mutual fund orders has been changed.
On Coin, when you place multiple orders in the same mutual fund scheme before the cut-off time, only the last order placed will be executed. The previous order(s) will get lapsed. This is applicable for both purchase & redemption orders.
For example, If you place an order to buy 'Parag Parikh Long-Term Equity Fund' for Rs 10000 at 9:00 AM and you place another purchase order for Rs 5000 at 1:00 PM, your purchase order of Rs 5000 at 1:00 PM will go through and the allotment will be for Rs 5000.
The same applies to redemption orders as well.
In the above example, if you had placed your 2nd purchase of Rs 5000 order after 1:30 PM, your first order of Rs 10000, would have gone through. Orders placed after 1:30 PM will be executed on the next working day.
Please ensure to maintain sufficient funds in your Zerodha trading account before 11 AM for the SIP orders on the SIP due date. The SIP orders can also be deleted before 11 AM (AMC SIP orders cannot be deleted).