To convert your MTF holdings to CNC, you need sufficient funds in your account. If you don't have enough funds for the full conversion, the system processes the request only for the quantity you can afford. For instance, if you have funds for only 5 shares out of 10 MTF shares, only 5 shares will be converted to CNC.
When conversion is not processed
Your conversion request will not be processed in these situations:
- If you purchase shares through MTF one day before a settlement holiday
- On the ex-date of a corporate action
How to convert MTF holdings to delivery
On Console
Visit console.zerodha.com/portfolio/mtf, tap on the instrument and then on Convert to holdings.
On Kite app
- Tap on your User ID.
- Tap on Portfolio.
- Tap on options and then on Portfolio.
- Tap on MTF holdings.
- Tap on the instrument and then on Convert to holdings.
- Enter the quantity and tap on Confirm.
The system processes conversion requests received before 4 PM on the same day, while requests received after 4 PM are processed the next working day.
To cancel a conversion request, tap on the instrument from the MTF holdings section, and then on Cancel conversion request.
Unpledge charges for MTF to delivery conversion
When you convert MTF holdings to CNC delivery, unpledge charges apply as the system must release the pledged stocks.
Unpledge charges: ₹15 + 18% GST = ₹17.70 per ISIN per purchase date
How charges are calculated
- Single ISIN, single purchase date: One charge of ₹17.70, regardless of quantity converted
- Single ISIN, multiple purchase dates: Separate charges for each date (for example, shares from two dates = ₹35.40)
- Multiple ISINs: Charges apply separately for each ISIN based on their respective purchase dates
- Partial conversions: Each conversion triggers charges based on the ISIN and purchase dates of the shares being converted
The total cost depends on how many different ISINs and purchase dates your converted shares span, not the quantity or number of conversion transactions.