Strange Pledging and Un-pledging process in Aliceblue

General
1

In Aliceblue, un-pleding charges applied based on number of times you have pledged a particular script.

E.g., If you pledge 10 INFY today and 20 INFY tomorrow, then when you un-pledge 30 day after tomorrow, then the Un-pledge charges will be for 10 INFY and 20 INFY.

Ie.,
Today 10 INFY Pledge - You pay Pledge charges (15+GST)
Tomorrow 20 INFY Pledge - You pay Pledge charges (15+GST)
Day after Tomorrow 30 Unpledge - You 2 time the Unpledge (30+GST)

At least that’s what their support is saying. Anyone know if this is a industry practice?

2

Hi @jk.saroja ,

We have clearly stated the charges for pledging and unpledging a particular scrip as Rs. 15 each. It is important to note that unpledging can only be done for specific quantities of stocks, such as 10 INFY and 20 INFY, based on the pledge request raised. Therefore, the charges for unpledging will be based on the unpledge request raised for one request Rs.15+ GST and second request Rs.15+ GST.

3

@arul_antony I still find it strange, based on your response, I constructed the below exampled scenario, Is it correct?

Today 10 INFY Pledge - I pay Pledge charges
Tomorrow 20 INFY Pledge - I pay Pledge charges
Day after Tomorrow if I sell 25 INFY - Will my 30 quantities of INFY get unpledged and I pay unpledge charges twice? with 5 remaining quantity added into my free holding.

4

After consulting with the relevant team, we found out that only the sold quantity of stocks will be unpledged from the collateral based on your request. In this case, since you have only sold 25 out of 30 stocks, the remaining 5 stocks will remain in your collateral. If you sell them in the future, unpledge charges will be applicable again.

5

Is there any circular that you can share with us, as reference

6

Hi Amrutha,

Kindly find the Internal circular for the same

7

So, how many time the un-pledging happens, for my example?

8

@jk.saroja
Referring to the example provided above,

Pledge request 1 :- 10 INFY | Pledge request 2 :- 20 INFY
Unpledge request 1:- 10 INFY | Unpledge request 2 :- 15 INFY

From the Pledge request 2:- Remaining 5 Qty INFY will be in collateral Next time you’re selling then again the Unpledge charges will post.

As per the pledge / Unpledge request the charges are charging.