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Type of Instruction (Per ISIN in an instruction) |
Pledging Charges in Rs. |
Margin Trading Pledge: MTF Pledge Creation/Closure/Invocation |
20 + GST |
Shares as Margin Pledge Creation/Closure/Invocation |
20 + GST |
The following points should be kept in mind:
a. If you do not select all stocks while providing pledge confirmation, your unselected stocks will not get pledged and therefore, no limits will be generated against those stocks.
b. If you have neither received any link on your mobile number nor on email id from CDSL/NSDL, please check whether your correct Mobile number and E-mail id is registered with the Depositories. If your contact details are correct and you still have not received the link-
Click here (https://eservices.nsdl.com/mrg/#/accountDetails) for the link if you have an NSDL account
Click here (https://www.cdslindia.com/Authentication/OTP.aspx) for the link if you have a CDSL account
You can track your pledge request from the Request Book under Shares as Margin Section. Once your pledge request is successfully confirmed through OTP authentication, the status in the Pledge Book will reflect as "Confirmed".
Shares as Margin allows you to pledge the shares held by you in your Demat account and generate limits against those shares.
The limits generated can be used in:
a. Margin Orders (MTF, Intraday)
b. Futures and Options
c. Currencies
d. Commodities
As per SEBIs new guidelines, you will have to pledge shares in favour of ICICIdirect to avail securities limit by the mandatory Margin Pledge Process (via OTP authentication) in Depository system
Similarly, in case of buying shares under Margin Funding (MTF), you will have to pledge those shares in favour of ICICIdirect to continue holding the positions under Margin Trading.
This new process has been implemented to ensure the safety and security of your shares.
You can create a fresh pledge request by following the steps below:
• Go to the Stocks
• Under the Funds tab, select Shares as Margin
• Under the Pledge & Create limit tab select the stock and quantity you wish to pledge
• Click on Pledge & Allocate to the asset where the limit has to be generated.
• Once confirmed, you will be redirected to NSDL page.
• Verify the details and confirm by entering OTP.
• Limits are generated instantly.
Margins are created instantly after receiving OTP.
For example, if the value of shares pledged is worth Rs.10,000 and the haircut of the stock is 20%. The limits created will be 10,000 – 20%* 10,000 = 8,000.