Announcements

We are conducting a scheduled upgrade & maintenance activity on 27th Mar'21, from 9 AM to 2 PM and 4 PM to 8 PM to ensure that you can enjoy a seamless trading experience on Upstox. During this time you may not be able to login to the Upstox Mobile & Desktop App or access some of our core services. Thank you for your patience & cooperation.

On the occasion of Holi, markets will be closed on Monday, 29th March 2021. Trading will resume on Tuesday, 30th March 2021.

MCX will be closed on Monday, 29th March 2021 for the morning session. The second session (5 PM to 11:30 PM) will function as usual.

Please note: All fund withdrawal requests placed on Monday will be processed on Tuesday, 30th March 2021.

All open position(s) in the F&O segment with a 25-03-2021 expiry date (except those who have opted for physical settlement) should be squared off  before 12:00 PM on 25th March to avoid any further action by Upstox.

What does this mean?
In an F&O contract, when there is an open position that has not been squared off by its expiry date, physical settlement takes place. This implies the physical delivery of stocks to settle the open transactions instead of settling them with cash.

Here’s an example – A trader bought futures for XYZ (lot size – 5000) at Rs. 100, so the contract value is Rs. 5,00,000. On expiry day, if the settlement price for XYZ is Rs. 102 and the contract has been settled on a cash basis, the trader will get a profit of Rs. 10,000. If the contract has not been settled, physical settlement takes place, which means the trader will have to pay an amount of Rs. 5,10,000 (as per settlement price of Rs.102, lot size 5000) and 5000 shares will be delivered to his Demat account as per the T+2 days settlement cycle.

As per our latest announcement mentioned here, we require consent in order to physically settle your transactions.

However, for all users who have not submitted consent and who do not square-off their positions before 12:00 PM on 25th March 2021, then here’s what will happen:

A) Auto-square off by Upstox: 

If users cannot square off your positions before the cut-off time (i.e., 12 PM on 25th March 2021), we will square them off at the prevailing market rates. Such square-off orders will be placed by our team as “Market Orders” and since order matching happens at the Exchange level, we shall not be liable for the rate at which they are executed.

B) Physical settlement by the Exchange:

If we cannot square off your positions due to market operational reasons, positions will be physically settled by the Exchange, and you will have to bear the costs (penalties & losses) arising from it. This means - 

1. For a long open position (Long Futures, Long Call Options, Short Put Options)
   Your long open position will get converted into a ‘Buy Equity Delivery,’ and you will be liable to pay the entire settlement amount as the holder of the position.
2. For a short open position (Short Futures, Short Call Options, Long Put Options)
   Your short position will get converted into a ‘Sell Equity Delivery,’ and you as a holder of the position will be liable to deliver the shares; else, an auction process will be applicable.

To avoid this entire process, we recommend squaring off all open F&O trades before 12 PM on 25th March 2021.

Feel free to refer to the exchange’ circular  here.

We’re glad you’ve enjoyed using our unlimited watchlists feature. However, from 5th April 2021, we will be defining a limit on the number of watchlists traders can create on Upstox.

What does this mean?
Earlier all traders were able to create an unlimited number of watchlists on Upstox and they could add as many symbols as they wanted in a watchlist. However, to ensure that you continue enjoying a seamless trading experience, we.ve decided to define a limit on the number of watchlists and the number of scripts per watchlist which shall be applicable from 5th April 2021.

The new limit on watchlists will be:
The number of watchlist per user: 20
The number of symbols/scrips per watchlist: 100

When will this be effective?
To give you time to re-organize your Watchlists we will be enabling these limits from 5th April 2021.

How does this impact any existing Watchlists?
After 5th April 2021, if you still have more than 20 watchlists or more than 100 symbols per watchlist then we won't be deleting the extra watchlist or symbols. Instead, you won't be able to create any new watchlist or add any new symbols.

You can still use watchlists like before on Upstox just with defined limits!

Vedanta Resources Limited, Twin Star Holdings Limited, Vedanta Holdings Mauritius Limited, and Vedanta Holdings Mauritius Il Limited have decided to acquire shares of Vedanta Limited. As a result of this takeover, you can apply to sell your Vedanta Limited shares to the acquiring companies (mentioned above) at Rs. 235 per share between 23rd March 2021 to 7th April 2021.

Read on to know how you can apply for it quickly and easily -

What is a takeover and why should you opt for it?
It’s a corporate action where a company or group of companies offers to buy or acquire shares of another company in order to gain enough control in that company. In this case, Vedanta Resources Limited, Twin Star Holdings Limited, Vedanta Holdings Mauritius Limited, and Vedanta Holdings Mauritius Ii Limited have decided to acquire shares of Vedanta Limited. To learn more about a takeover, click here.

What does this offer mean for Vedanta Limited shareholders?
A takeover is usually done at a higher price than the market price, thus giving shareholders a chance to sell their shares at a higher price.

Existing Vedanta Limited shareholders holding Vedanta Limited shares can offer to sell their shares for Rs. 235 per share by applying to this takeover offer before 2:00 PM on 7th April 2021.

How to apply for a takeover?
Just follow these steps:

 1. Login into keystone.upstox.com with your client code and back-office password
2. Click on “Account” on the top of the header line
3. Click on “Buy Back/ Takeover” from the drop-down
4. Click on “Apply” and enter the quantity
5. Submit the request

Note: Non-POA holders will need to enter a valid pin to authenticate the takeover via EDIS to proceed.

When can you apply?
Apply for this takeover before 2:00 PM on 7th April 2021.

What to keep in mind while applying?

1. You shouldn’t sell these shares on or before 7th April 2021 if you’re interested to take part in the takeover offer.
2. After applying and offering your shares up for a takeover, you cannot sell them in the market and modify or cancel your original bid.
3. You can only sell these shares in the market If the company cancels the takeover and you receive your shares back from the company.
4. You will receive the takeover amount for the shares from Vedanta/ Registrar & Transfer Agent (RTA) directly into your bank account (this will be updated in the records of the depository as well).
5. A total of 65,10,00,000 shares will be accepted by Vedanta for the takeover and the remaining shares not accepted by Vedanta will be returned back to shareholders in their Demat account.
6. Vedanta will credit the payment for the accepted shares and the unaccepted shares will be returned to the user's Demat accounts within 10 days from the date of offer closure i.e. 7th April 2021.
7. The percentage of shares accepted will be decided based on the number of retail investors who have applied for the takeover.

That’s all about the Vedanta takeover, stay tuned for more takeover updates from Upstox!