In India, whenever we used to sell the stocks, the 80% would come to our account at that time and the 20% will come next day. But now as per the NSE circular, both Zerodha and Groww has now updated their program and now they will give you 100% of your sell amount instantly. This is the below email I have got from Groww about the same details.
This is a great update for me as now I can buy the shares with the same amount of what I will sell. And this update is great for ETF Ki Dukan also, mostly when I sell and that day I have 80% to buy another ETF. But from now on, whatever I sell, I can buy with the same amount from that day itself.
For example, before this change, when we sold shares worth 1000, only 800 was available for immediate use, and the remaining 200 was accessible the next trading day. Now after this change, if we sell shares worth 1000, the full 1000 will be available for further trades on the same day.
But this money will not be available for withdraw on the same day.for withdrawal you have to wait for the next day. So when you sell the shares, you cab buy with 100% of the sell amount. But the sell amount will not be available for withdrawal on that day. Actually I am happy with the change as I do daily buy and sell of my ETFs. So now once I sell thr ETF, the amount sold can be used to buy the ETF with the same amount. Along with that when we sell the IPO in profit, the profit can be used to buy other shares and the amount invested can be taken out the next day.
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