What happens when I sell/redeem units on Coin web?
Whenever you place a redemption (sell) order on Coin, the units are deducted from your Zerodha demat account on the same day. However, the order status gets updated on the Coin platform the next day (T+1).
Here is a simple flow chart explaining the process after you place a redemption order.
Once the payment is credited, here is what will show up on Coin.
When the units are debited from your demat account, the transaction is updated on Coin.
Please note that the trade details under “View transactions” will only be updated on the T+2nd day. The order history will display the settlement time and transaction details.
The holdings display a loss on Console as the transaction will be recorded only on the T+2nd day. Here’s how it is displayed until the transaction is updated on Console.
This is what happens when you place a redemption order on Coin web.