Now sell your shares without a Power of Attorney letter

Blog | PRODUCT UPDATE

Traders,

We're happy to announce that, starting today, you do not need to sign a PoA (Power of Attorney) to sell your stocks through Upstox. Many of you have written to us that it's quite frustrating to have a paper process in an almost paperless world. You open your accounts via paperless and then, at the end, the broker asks you to send a physical PoA form to sell your shares through a platform.

Upstox is the first broker to implement an electronic delivery instruction slip (e-DIS) that allows you to sell your stocks real-time without giving us a physical slip or a power of attorney. We have implemented a secure OTP-based authentication to facilitate this action. From now on, you can open an account and transact end-to-end without sending a single piece of paper via courier.

If you have not sent your power of attorney forms to Upstox, here's how selling your shares would look. To begin with, you'd now see all of your shares in the Holdings tab. Previously, this may not have been there since we don't have your PoA. Now, you'll see all of your equity holdings on both the mobile and web Upstox Pro app.

Next, when you click sell, you'll be prompted with a window that asks your permission to sell your shares online using e-DIS facility. You can confirm your transaction right away! Just make sure you enter the right OTP that is sent to your registered phone number and email ID.

e-DIS message on Upstox Pro web.

 

e-DIS message on Upstox Pro mobile.

 

Some things to note:

  • You can sell up to 75 lakhs per day using e-DIS.
  • e-DIS is only applicable for delivery trades not intraday.
  • This is available only to RKSV demat account holders. If you haven't transferred your Demat account from IL&FS to RKSV, yet, do so today! You'll save on the annual fees right away.
  • e-DIS is currently available only on the Upstox platforms (Web, Android, iOS) and not on third-party platforms yet.
  • Matloobul Haque

    sir,
    i have query about e-DIS facility, if i dispose off shares from my demat account whether the amount will be instantly credited or it will take some time in to my saving account. honestly speaking i am confused ,kindly throw the light on this step by step again so that i may be able to open my demat and trading account and enjoy this facility.

    • Vaibhav Vora

      Hi Matloobul,
      The credit arising due to sell of Holdings will be available for a fresh new trade immediately. Moreover, the withdrawal of the same (upon request) to bank account will only be possible on or after the settlement of the same is done from exchange i.e. T+2 days from the trade date.
      Refer below link of settlement mechanism of the exchange here for more details;
      https://www.nseindia.com/products/content/equities/equities/settlement_cycle.htm

      Refer to – Dematerialised settlement >> Rolling Settlement

  • Sanketh Beerabbi

    Your help pages and signup process still talk about PoA being mandatory. Please update them.

  • Rohan

    Hello Shrini, this is really awesome. How can existing clients who have given the physical POA, cancel the POA?

    Also what if I sell the stock from my demat and dont enter the OTP? Will RKSV be able to sell inspite of me not entering the OTP?

    • Vaibhav Vora

      Hi Rohan,
      The order will only be processed further when OTP authentication is done.
      We would always suggest continuing with your POA, In any other case, you can always get in touch with our support – DP team.

      • hi Vaibhav, How to request for revoke of POA in case of RKSV demat ? I also want to use this awesome feature of e-DIS but have already given the POA to upstox. A standalone demat without any POA gives many paranoid investors like me a good sleep. I am okay to pay SMS charges also for availing the e-DIS facility

        • Vaibhav Vora

          Hi Adithya,
          We would always suggest continuing with your POA, since it is not a general POA. In any other case, you can always get in touch with our support (DP team).
          Thanks

  • Is it possible you can support IL&FS demat acounts ,, I do have a standalone IL&FS demat account, Can I link it with upstox and sell holdings from you guys ?

    • Vaibhav Vora

      Hi Adithya,
      We are no longer servicing the IL&FS demat.
      The other way to sell your holdings will be transfer it to our beneficiary account and sell the transferred holdings upon receipt confirmation.

  • Kunal Tandel

    Hello Sir,

    How do I Transfer my Share from Old Dmat Account to Upstox?

  • Jitendra Kumar

    Is this possible to sell shares in intraday without POA ?

    • Dilshad Akhtar

      Kindly reply to this.

      • Muhammad Mohsin

        Just spoke with thier rep. Intraday trading doesn’t need POA for trading less than 20L

  • Amit Kumar

    मेरा लॉगिन पासवर्ड अभी तक से नही मिला है क्या करें

  • Upendar Singh

    Is this possible to sell shares in intraday without POA ? Please say

  • Azeem Burney

    Trading without a POA, do the scrips go into the broker pool account?

  • Varun Sahay

    i have note received my login credentials, can any one help..!!

  • Sarthak Mahapatro

    Can we place AMO orders (delivery) using e-DIS?

  • C P Patel 🇮🇳

    What if I have already submitted PoA when I opened account..?

  • Kalpesh Agrawal

    how to transfer shares which we hold in RKSV to some other Broker? . Can we use E DIS? . if so how to do electronically??

  • Aditya Patel

    Hi sir T.PIN KAISE BANAYE

  • PYTAM EARNIG

    Sir, if the form is being rejected again and again, what should be done to make sure that my form is not rejected? https://uploads.disquscdn.com/images/14423687c36950406fddee687e8f25cfb6b2745463dfe7c01816bca96fe4a297.png

0Shares
0