Announcements

Our auto-square off timings are as mentioned below:
?NSE & BSE: 3:00 PM
?CDS: 4:30 PM
?MCX: 11:15 PM

Please note: our usual auto square-off charges will be applicable from today. Please plan your trades accordingly.

The GAIL (Gas Authority of India Ltd.) buy-back offer of Rs. 150 per share goes live on 25th February 2021 and you can apply for it before 10th March 2021.

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

What is a buy-back and why should you opt for it?
It’s a corporate action where a company offers to buy-back its shares from the existing shareholders usually at a higher price than the market price. To learn more about a buy-back, click here.

What does this offer mean for GAIL shareholders?
Existing shareholders holding GAIL shares as of 28th January 2021 (which is the Record date) can sell their shares back to GAIL for Rs. 150 per share by applying to their buy-back offer on or before 3 PM on 10th March 2021.

How to apply for a buy-back?
Just follow these steps:

1. Login into keystone.upstox.com with your client code and back-office password
2. Click on “Account” at 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 buy-back via e-DIS to proceed.

When can you apply?

Apply for this buy-back on or before 10th March 2021.

To know more about the application procedure, read the circular here.

What to keep in mind while applying?

1. You can only apply for this buy-back if you hold shares of GAIL in your Demat account as of 28th January 2021.
2. After applying and offering your shares up for a buy-back, 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 buy-back and you receive your shares back from the company.
4. You will receive the buy-back amount for the shares from GAIL / 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 6,97,56,641 shares will be accepted by GAIL for the buyback and the remaining shares not accepted by GAIL will be returned back to shareholders in their Demat account. The percentage of shares accepted will be decided based on the number of retail investors who have applied for the buyback.

That’s all about the GAIL buy-back, stay tuned for more buy-back updates from Upstox!

All open position(s) in the F&O segment with a 25-02-2021 expiry date (except those who have opted for physical settlement) should be squared off  before 12:00 PM on 25th February 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 February 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 February 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 February 2021.

Feel free to refer to the exchange’ circular  here.

Our auto-square off timings are as mentioned below:
?NSE & BSE: 3:00 PM
?CDS: 4:30 PM
?MCX: 11:15 PM

Please note: our usual auto square-off charges will be applicable from today. Please plan your trades accordingly.

Margins are:

? Up to 5X margins on Intraday orders in EQ (for F&O-listed stocks only)

? Up to 2X margins on Intraday orders in Futures and Options (selling) only across all Exchanges.

? All CO & OCO orders are blocked.