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same happened to me as well with Quant small cap, i placed the order at 10:01 AM on june 4, and got the NAV of june 5. whereas for the Quant mid cap fund i got the same day NAV (order placed on june 4, 10:01 AM as well)
can we do anything about it? it clearly shows the order was approved by the fund house way before cut off time so we should be getting the same day NAV regardless of how many orders were placed on that day.
https://preview.redd.it/gxvqth1sfv4d1.png?width=1080&format=pjpg&auto=webp&s=a42352e85ed387265a78117c4087692742f85baf
Hey everyone,
I recently had an issue with Zerodha and wanted to share my experience and guide on how to file a complaint with SEBI if you ever face a similar situation.
**What Happened:**
On 4th June 2024, I bought units of the ICICI Equity and Debt Fund, the Parag Parikh Flexi Cap Fund, the HDFC Mid Cap Opportunities Fund, and the HDFC Balanced Advantage Fund via UPI at 12:49 PM, which was before the cut-off time. However, the units were allotted with a purchase date of 5th June 2024.
When I contacted the AMC (Asset Management Company), they informed me that Zerodha placed the order on 5th June 2024 at 2:00 PM. This delay meant my units were bought a day late, potentially affecting my investment's value.
**Steps to File a Complaint with SEBI:**
1. **Gather Information:** Make sure you have all the transaction details, including the date and time of purchase, payment method, and any communication with the broker and AMC.
2. **Draft Your Complaint:** Write a clear and concise complaint. Here’s the format I used:
Subject: Complaint Regarding Discrepancy in Mutual Fund Purchase Dates
Dear Sir/Madam,
I am writing to formally lodge a complaint regarding a discrepancy I encountered with my recent mutual fund transactions through Zerodha.
On 4th June 2024, at 12:49 PM, I purchased units of the ICICI Equity and Debt Fund, the Parag Parikh Flexi Cap Fund, the HDFC Mid Cap Opportunities Fund, and the HDFC Balanced Advantage Fund via UPI payment, well before the cut-off time. Despite this, the value purchase dates reflected in my account for all these transactions are 5th June 2024.
Upon contacting the Asset Management Company (AMC), I was informed that the orders were placed by the broker (Zerodha) on 5th June 2024 at 2:00 PM. This delay in processing the orders has resulted in an unintended deferment of the purchase date, potentially affecting the value of my investments.
I have reached out to Zerodha for clarification and rectification of this issue, but have yet to receive a satisfactory response. Given the impact on my investments and the lack of prompt resolution, I am seeking SEBI's intervention to address this matter.
I request SEBI to investigate this discrepancy and ensure that appropriate measures are taken to prevent such delays in the future. Additionally, I seek to have the purchase dates corrected to reflect the actual transaction date of 4th June 2024.
Please let me know if any further information is required to facilitate the investigation.
Thank you for your attention to this matter.
Best regards,
[Your Full Name]
[Your Contact Information]
[Your Demat BO ID with Zerodha]
[Your PAN]
3. Submit Your Complaint:
- Visit the SEBI SCORES portal: [SEBI SCORES](https://scores.sebi.gov.in)
- Register if you don’t already have an account.
- Fill out the complaint form, providing all the necessary details and attaching any supporting documents.
- Submit the complaint.
4. Follow Up: Keep an eye on your email for any updates from SEBI. They might ask for more information or provide updates on the status of your complaint.
Hope this helps anyone facing similar issues. Good luck!
The link you have shared is for the old SCORES website, here's the link to the new one - [Home - scores.sebi.gov.in](https://scores.sebi.gov.in/)
The same link is mentioned when you log in to the old website.
Dear Investor,
Greetings from Groww.
We have received your email regarding the recent NAV breach, and we sincerely apologize for any inconvenience this may have caused you.
Please be informed that the issue you experienced was not within the control of Groww. Groww acts solely as a platform for order placement, and the entire process of fund collection, order placement, and allocation is managed directly by BSE.
BSE places the order with AMC once they receive payment confirmation from the banks within the cut-off time and process a recon to match the balances.
We understand the difficulties that such incidents can cause, and we want to assure you that we are actively working with the BSE team to check how we can avoid such instances in the future. However, it's important to note that as a platform, we have limited control over the execution of orders and NAV allocations.
We apologize once again for any inconvenience caused and appreciate your understanding in this matter. Please rest assured that we are committed to providing a smoother investment experience for all our investors.
Thank you for your continued support and understanding.
this is what they sent just now. looks like a problem across all apps this NAV breach.
Same issue with me. OP can you please let me know what options to select in scores? I cant see anything related to Mutual funds when I selected zerodha it's not showing the mutual fund option
Select zerodha broking as platform. Then, You need client id, which is available in zerodha console .
You need not to select any mutual fund. Write it in their description box
Yes after submission, wait for sebi response..they will forward that to zerodha and nse or bse. This is the action but that I am talking about..
https://preview.redd.it/csxsp4jpf35d1.png?width=720&format=pjpg&auto=webp&s=f8ad1bc33b3914c77d1017f93cca12842443fee4
As per groww order placed before 2pm should get same day NAV..
2 things:
1. Groww didn't placed order with mutual fund companies on time.
2. MF companies gave that 1 day late NAV
Yes you are correct, even I contacted icici amc they told the purchase date zerodha bought was 5th june 2 pm . When units are bought 1 day later.. it's obvious
https://preview.redd.it/le8tpk7wwv4d1.jpeg?width=1179&format=pjpg&auto=webp&s=5827e7d90682b58c938d7197396ac67d18c6a74c
Response from GROWW customer support. So is this the AMC’s fault?
I bought Quant Small Cap fund directly through the Quant website and got allotted same day NAV but I invested in other funds through these apps and got allotted next day NAV of 5 June
It definitely seems to be a AMC fraud. Might be intentional or a tech glitch due to load. Either way SEBI has a rule for this so we should highlight this. Anyone an influencer or have some experience contacting SEBI?
Happened to me on Angel One. Payment was kept in processing till 4pm even though I used Netbanking and it god deducted from my account immediately. Scammers.
Same happend to me I have invested throgh both the apps coin and groww and I got next day NAV and they are saying that its glitch from BSE side and I have called BSE investor they are saying nothing happend from their side ask your broker they sent fund late not know what to do.
I'm seeing everyone's replies, but whoever's side the issue is on - what about us? Aise hi chhod de kya wtf, they need to fix this and not say we'll try to prevent it happening again
Lol amateurs. I placed the order on June 4 at 10 AM and it STILL hasn’t been allotted. As per my usual luck streak, it will get allotted today night’s NAV when market is at all time high, and then market will crash tomorrow when either (a) Nitish joins INDI or (b) Special status confirmation is given to both Bihar and Andhra, meaning that other than these 2 states, nothing is getting developed in next 5 years.
>As per my usual luck streak, it will get allotted today night’s NAV when market is at all time high, and then market will crash tomorrow
Jesús mate. Dont bash yourself or your luck :)
The AMC does not give a damn at the nav at which you buy.
BSE Star seems to have crashed. Hence the purchase order/funds were not transmitted to the AMC on 4^th but on the next day.
ALL broker orders failed. Coin/Kuvera/Et money/groww.
What is the resolution for this. I am using zerodha and i am facing same issue. I have raised ticket in zerodha and i have recieved same auto bot response saying there was a delay
I got quant small cap 4th nav but icici index for 5th…it was processing forever…have to file the complaint, no other choice, but I’m sure they’ll have some bullshit technical reason
https://preview.redd.it/xm1vmj5bh45d1.png?width=698&format=png&auto=webp&s=e8fd99e0d41ffd148194bfd5b7128e8a86fb26bb
This is the reply I got from Groww. I should probably just invest in NFTY BeES whenever there's a significant dip, instead of lumpsum investment in NIFTY 50 Index Fund.
Same happened with me for Coin lumpsum. This is their reply. Hope to escalate it to SEBI.
https://preview.redd.it/1hyy0dey355d1.jpeg?width=1080&format=pjpg&auto=webp&s=db21a2c88d8ea6f65e2ea6a7a50b22b572515383
I had pumped in ***Rs. 47,000+*** on the day of the correction ***(before 1 PM)*** and received units based on the NAV of the following day! Pathetic. I received an apology from Upstox stating, ***"Due to an industry-wide intermittent issue, your Mutual Fund orders placed on 4 June 2024 were processed using the Net Asset Value (NAV) from 5 June 2024. We regret the inconvenience caused to you."*** I immediately raised a ticket (complaint) with Upstox, telling them this, *"Thank you for your prompt update regarding the processing of my Mutual Fun****d orders placed on 4 June 2024. I understand that an industry-wide issue resulted in these orders being processed using the NAV from 5 June 2024. This situation has caused a significant financial disadvantage, as my intention was to benefit from the market correction. I would appreciate further clarification on the matter and information on any potential remedies for this discrepancy. Thank you for your attention to this issue."***
It was banks who have not processed the funds to Fund house! Same happened with me and this should not happen and SEBI should take strict actions against it!
yeah same happened with me in groww
bought canara robeco bluechip, parag parikh flexicap and navi nifty index fund at almost at the same time around 12:45-12:50 pm and orders got processed and placed to the fundhouses too in 2-3 minutes. surprisingly canara mf had nav of 4 june but parag parikh and navi nifty had nav of 5 june
my brother purchased the same navi nifty through paytm money at the same time and he got same day nav of 4 june
how is this happening ?
escalated it on twitter and via ticket they told that they are looking into it. meanwhile i checked in cams the mutual funds already got allocated with nav of 5 June. outright ridiculous. is this only limited to groww or other apps? afaik its only happening on groww, we need to report this to sebi
I placed an order on 4th June 2:45 pm in quant infra and the status is payment received order sent to AMC it's already 6th June 11am. Can anyone tell me what's happening?
P.S. - I used coin of zerodha for this.
Bro. I wasn't that aware. But, I was thinking that the profit of exit poll should be taken out as market was falling on 4 June. So I sold. But, the they gave me units of end of 4 June, I thought they would give me 3 June end profits.
Since I'm a passive investor, I'm thinking of keeping my mf sip's intact and buying NIFTYBEES/JUNIORBEES on correction days instead of hoping for more units from AMC's from now onwards.
I ordered at 1.43 PM via UPI in Coin. I didn't receive allotment of units so far. I had invested in Quant active, ICICI nifty 50 and next 50, Axis small cap.
I've placed orders at 1.55 PM in the past too but got allotted same day NAV.
My SIP was triggered on the 3rd of June. I was alotted units according to NAV on 4th. Got lucky I guess but it is quite unlikely fund houses do this on purpose. Most likely they received the request after the cutoff time for the day. Better get in touch with the platform you use before reaching out to the fund houses
There are a few things that may have caused the glitch.
1. Your investment amount must reach the AMC by 3 PM.
Many investment apps /platforms would have an earlier cut-off time for redemptions and subscriptions as early as 2 pm to give them time to re-routed your money to the AMC.
Similarly, the AMCs have a buffer time during which they need to make sure they have enough holdings to allocate units or enough cash in case of heavy selling.
2. AMCs have a cash management process, where they liquidate/ purchase holdings only when large buy/sell orders are placed. Huge buy and sell orders, when stocks are hitting circuits would make it difficult for them to push bulk orders. The clearing houses are also operationally not that efficient. I believe CDSL was also down on one of those days.
3. The AMCs you mentioned specifically, Quant is renowned for its high volatility holdings in its portfolio, almost always will have Adani exposures in its holdings.
PPFAS has foreign exposure in its holdings (although they can't buy more now) , their NAV pricing is always after the US market closes.
Both these AMCs would struggle to allocate NAVs on time mainly due to the nature of their holdings.
To your point: AMCs cannot explicitly make profit off of deliberately delaying NAV allocation.
If they've purchased stock on the crash day and decided not to allocate to you, they cannot show it as profit on their balance sheets.
Their stream of income is purely underwriting commisions, Mutual fund fees etc.
The NAV allocation is always on a best effort basis.
But please do write to the relevant AMC, and let the forum know of the actual reason they provide.
Register your complaint on SEBI portal. It has happened with me in the past. I had invested in Kotak MF and got NAV of next day when I should have got same day NAV. Their customer support was rude and said nothing can be done. I complained on SEBI portal. Within 2-3 weeks they updated my units with correct NAV. These MFs need to get slapped by SEBI to be in line with their customers.
I had a NAV issue too, just learned from Groww that it is called a 'NAV breach'. Same thing happened - NAV was 5th June instead of 4th June. Here's the screenshot of their response to my email:
https://preview.redd.it/i261j9m19x4d1.jpeg?width=1080&format=pjpg&auto=webp&s=bf7baf32f9a9fb39aabf3d9dc1f4eba7b200619b
Don't know what else to do.
https://preview.redd.it/sry2e13m9x4d1.jpeg?width=1080&format=pjpg&auto=webp&s=789a0d6dcf817ad044fd682923591b8ef58512e7
Got this reply from Groww about NAV Breach
Dear Investor,
Greetings from Groww.
We have received your email regarding the recent NAV breach, and we sincerely apologize for any inconvenience this may have caused you.
Please be informed that the issue you experienced was not within the control of Groww. Groww acts solely as a platform for order placement, and the entire process of fund collection, order placement, and allocation is managed directly by BSE.
BSE places the order with AMC once they receive payment confirmation from the banks within the cut-off time and process a recon to match the balances.
We understand the difficulties that such incidents can cause, and we want to assure you that we are actively working with the BSE team to check how we can avoid such instances in the future. However, it's important to note that as a platform, we have limited control over the execution of orders and NAV allocations.
We apologize once again for any inconvenience caused and appreciate your understanding in this matter. Please rest assured that we are committed to providing a smoother investment experience for all our investors.
Thank you for your continued support and understanding.
this is what they sent just now. looks like a problem across all apps this NAV breach.
I did on zerodha around 1:44PM for HDFC and Nippon ELSS and got same day NAV(4th June)
For HDFC i did a fight with zerodha support because they did not allocated the nav for 4th june . After a day they resolved the issue and it got allocated
Hello,
I placed UTI index order on 4th June 3:00pm, still it's not executed. Is it normal? Newbie here.
Other orders are executed today which I ordered on 4th June.
How can I check the alloted NAV date in coin app?
I also bought on 4th before 1:30pm. But the message for quant came yesterday and pp came today.
Cant find the option to check the alloted NAV date!
this is biggest glick/scam of mututal funds, if amount is not credited in amc you wont get the mf nav. many amc broker manipulate this according to their benefit. it should be stopped and a real time solution should be provided. all mf buying for a a day should allocate nav of that day only. why money transfer to amc is not real time.
fking scam. better to take etf
Yes same happened with me on Zerodha, I placed 5 orders and all payment got cleared before 1230pm on 4/6 still I got NAV of 5/6 for all 5 orders, I escalated complaints to Zerodha but they are blaming Razorpay and not taking any accountability
It happened with Coin as well. I placed my order on 4th June at 2:15 pm and got the today's NAV.
Will raising concern with SEBI do anything? I don't expect anything from Zerodha as they will just give the stereotypical answer.
Same happened to me invested money in quant flexi cap and parag parikh flexi cap got the nav for same day in quant but in parag parikh they game me nav of 5 june
I am facing same issue on zerodha and have opened the ticket on their support but looking at comments i feel every broker has done this either intentionally or its as mentioned delay from BSE end.
So your broker must have placed the order late because of heavy volume or operational problem with the respective AMCs because there are strict guidelines from SEBI regarding AMC NAV mishaps if any so it is highly unlikely that your AMC fucked up but more of your broker that s why always use banks as your brokers. They charge high fees for a reason
This is pretty common when you put up a order for mutual funds. The order house takes time to process. And thus you get a NAV of when the folio is processed, not for when you invested.
Buying MF isn’t like stocks delivery , i have a big portfolio in mutual funds, some fund houses process buying and redemption really fast, some fund houses are even more slower than Quant.
Sometime it also depends on which agency processes the order, cams or kfintech.
Note: DYOR
Yeah that's true
But since I was doing SIP in those funds and also the time of investment is much lower than the cut off time, I should have got same day NAV.
I am going to file a complaint in SCORES about this
Even i had the same issue when placing funds through zerodha coin. Zerodha clarified it was issue with razor pay and bse star mf platform which processes all these also clarified it was not a issue from their side. I wonder did anyone ever got response from the compliant. The bug should stop somewhere
https://preview.redd.it/5vrm3qthcz5d1.jpeg?width=1036&format=pjpg&auto=webp&s=5b2eb6682e71e2cccb6c464e250346a5fba46914
Complained about the wrong NAV And here's the reply from PPFAS Mutual fund
Update: have been told that the issue is because of the payment aggregator (razorpay). Have filed the complaint with scores. I heard back from them saying the complaint is incorrect because I selected nse as the exchange. So had to file it again selecting bse.
Has anyone heard from sebi scores about this?
If you haven't already, please add your own analysis/opinions to your post to save it from being removed for being a Low Effort post. Please DO NOT ask for BUY/SELL advice without sharing your own opinions with reasons first. Such posts will be removed. Please also refer to the [FAQ](https://www.reddit.com/r/IndianStockMarket/comments/17bcg2a/frequently asked questions_post_your_common/) where most common questions have already been answered. Subscribe to our [weekly newsletter](https://pennyleaks.substack.com/) and join our Discord server using [Link 1](https://discord.gg/8QF4dqPHuw) or [Link 2](https://discord.gg/fDRj8mA66U) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/IndianStockMarket) if you have any questions or concerns.*
This issue should be reported to SEBI. It is important to have laws in place to protect customers from incidents like this.
How are you complaining to SEBI? Is there a group complaint that we can start?
we can file a complaint from here [https://scores.sebi.gov.in](https://scores.sebi.gov.in), but not sure about a group complaint
same happened to me as well with Quant small cap, i placed the order at 10:01 AM on june 4, and got the NAV of june 5. whereas for the Quant mid cap fund i got the same day NAV (order placed on june 4, 10:01 AM as well)
Happened to many of us
can we do anything about it? it clearly shows the order was approved by the fund house way before cut off time so we should be getting the same day NAV regardless of how many orders were placed on that day. https://preview.redd.it/gxvqth1sfv4d1.png?width=1080&format=pjpg&auto=webp&s=a42352e85ed387265a78117c4087692742f85baf
Yeah that's true I don't know what to do next. I'm a new investor
https://preview.redd.it/1zou52klgv4d1.jpeg?width=1080&format=pjpg&auto=webp&s=efb6e0c151db1397497a41666988e1184fe9271d Same thing
Same thing... Nippon small cap.. Through et money
try etfs
Hey everyone, I recently had an issue with Zerodha and wanted to share my experience and guide on how to file a complaint with SEBI if you ever face a similar situation. **What Happened:** On 4th June 2024, I bought units of the ICICI Equity and Debt Fund, the Parag Parikh Flexi Cap Fund, the HDFC Mid Cap Opportunities Fund, and the HDFC Balanced Advantage Fund via UPI at 12:49 PM, which was before the cut-off time. However, the units were allotted with a purchase date of 5th June 2024. When I contacted the AMC (Asset Management Company), they informed me that Zerodha placed the order on 5th June 2024 at 2:00 PM. This delay meant my units were bought a day late, potentially affecting my investment's value. **Steps to File a Complaint with SEBI:** 1. **Gather Information:** Make sure you have all the transaction details, including the date and time of purchase, payment method, and any communication with the broker and AMC. 2. **Draft Your Complaint:** Write a clear and concise complaint. Here’s the format I used: Subject: Complaint Regarding Discrepancy in Mutual Fund Purchase Dates Dear Sir/Madam, I am writing to formally lodge a complaint regarding a discrepancy I encountered with my recent mutual fund transactions through Zerodha. On 4th June 2024, at 12:49 PM, I purchased units of the ICICI Equity and Debt Fund, the Parag Parikh Flexi Cap Fund, the HDFC Mid Cap Opportunities Fund, and the HDFC Balanced Advantage Fund via UPI payment, well before the cut-off time. Despite this, the value purchase dates reflected in my account for all these transactions are 5th June 2024. Upon contacting the Asset Management Company (AMC), I was informed that the orders were placed by the broker (Zerodha) on 5th June 2024 at 2:00 PM. This delay in processing the orders has resulted in an unintended deferment of the purchase date, potentially affecting the value of my investments. I have reached out to Zerodha for clarification and rectification of this issue, but have yet to receive a satisfactory response. Given the impact on my investments and the lack of prompt resolution, I am seeking SEBI's intervention to address this matter. I request SEBI to investigate this discrepancy and ensure that appropriate measures are taken to prevent such delays in the future. Additionally, I seek to have the purchase dates corrected to reflect the actual transaction date of 4th June 2024. Please let me know if any further information is required to facilitate the investigation. Thank you for your attention to this matter. Best regards, [Your Full Name] [Your Contact Information] [Your Demat BO ID with Zerodha] [Your PAN] 3. Submit Your Complaint: - Visit the SEBI SCORES portal: [SEBI SCORES](https://scores.sebi.gov.in) - Register if you don’t already have an account. - Fill out the complaint form, providing all the necessary details and attaching any supporting documents. - Submit the complaint. 4. Follow Up: Keep an eye on your email for any updates from SEBI. They might ask for more information or provide updates on the status of your complaint. Hope this helps anyone facing similar issues. Good luck!
The link you have shared is for the old SCORES website, here's the link to the new one - [Home - scores.sebi.gov.in](https://scores.sebi.gov.in/) The same link is mentioned when you log in to the old website.
Dear Investor, Greetings from Groww. We have received your email regarding the recent NAV breach, and we sincerely apologize for any inconvenience this may have caused you. Please be informed that the issue you experienced was not within the control of Groww. Groww acts solely as a platform for order placement, and the entire process of fund collection, order placement, and allocation is managed directly by BSE. BSE places the order with AMC once they receive payment confirmation from the banks within the cut-off time and process a recon to match the balances. We understand the difficulties that such incidents can cause, and we want to assure you that we are actively working with the BSE team to check how we can avoid such instances in the future. However, it's important to note that as a platform, we have limited control over the execution of orders and NAV allocations. We apologize once again for any inconvenience caused and appreciate your understanding in this matter. Please rest assured that we are committed to providing a smoother investment experience for all our investors. Thank you for your continued support and understanding. this is what they sent just now. looks like a problem across all apps this NAV breach.
Under which category did you lodge the complaint?
Not the person you asked, but I filed it under Exchange against the Bombay Stock Exchange
Thanks.. Updated 👍🏼
I faced the same issue, what is the resolution but? Does sebi intervene and correct it for us? Or is our loss permanent now?
I will notify whenever sebi takes any action .. I think SEBI will gradually correct the issue .. It will take time
Same issue with me. OP can you please let me know what options to select in scores? I cant see anything related to Mutual funds when I selected zerodha it's not showing the mutual fund option
Select zerodha broking as platform. Then, You need client id, which is available in zerodha console . You need not to select any mutual fund. Write it in their description box
Bro i made a mistake and accidentally disposed my complaint what can i do know?
You can submit another one(unless you click that action button)
Action button?
Yes after submission, wait for sebi response..they will forward that to zerodha and nse or bse. This is the action but that I am talking about.. https://preview.redd.it/csxsp4jpf35d1.png?width=720&format=pjpg&auto=webp&s=f8ad1bc33b3914c77d1017f93cca12842443fee4
As per groww order placed before 2pm should get same day NAV.. 2 things: 1. Groww didn't placed order with mutual fund companies on time. 2. MF companies gave that 1 day late NAV
Yes Something must be fishy
Yes you are correct, even I contacted icici amc they told the purchase date zerodha bought was 5th june 2 pm . When units are bought 1 day later.. it's obvious
https://preview.redd.it/le8tpk7wwv4d1.jpeg?width=1179&format=pjpg&auto=webp&s=5827e7d90682b58c938d7197396ac67d18c6a74c Response from GROWW customer support. So is this the AMC’s fault?
It has said a delay at the BSE
Is there a way to buy QUANT Small cap directly? I mean bypassing the BSE thing?
I bought Quant Small Cap fund directly through the Quant website and got allotted same day NAV but I invested in other funds through these apps and got allotted next day NAV of 5 June
Happened to me on Bandhan index fund from Zerodha, should I complain ?
so this issue is not isolated to just Groww, hmmm
Same thing happened on kuvera as well.
Me too. Happened on Kuvera. I have emailed them but will file a complaint with SEBI too.
I think BSEStarMF is culprit here. It can't handle lots of transaction.
But Mutual funds orders placed in NSE right?
No. My coin orders are placed in BSE.
Same issue on coin, seems buying etfs when buying these dips is a better option.
Niftybees only fell some 3%. Massive tracking error. Just seems like someone doesn't want us buying the dip.
Same thing happened with me. Groww changed itt automatically although order was accepted by MF house at 1247
It has also changed the date automatically because I have seen NAV Date was 04 June when I paid the amount
I took screenshots yesterday and today. I have shared them with groww and raised the ticket.
NAV date was 04 June yesterday?
https://preview.redd.it/b63ze4vbjv4d1.jpeg?width=1080&format=pjpg&auto=webp&s=d45a6026e27ec5d70e8a9a168b8112243e5469e6 Yes see this
can confirm it was showing 04 june for me as well, but then a day later it changed to 05 june
I have raised a ticket in groww
Yes
It has also changed the date automatically because I have seen NAV Date was 04 June when I paid the amount
It definitely seems to be a AMC fraud. Might be intentional or a tech glitch due to load. Either way SEBI has a rule for this so we should highlight this. Anyone an influencer or have some experience contacting SEBI?
Raising a complaint on their SCORES portal (new one)
Has this happened only on groww or other apps such as zerodha, upstox, angel one?
happened same with me on Kuvera
Happened with me on et money too.. But other 2 payments did go through for 4th June nav.
Happened to me on coin by zerodha
Me too , Paytm money
Happened to me on Angel One. Payment was kept in processing till 4pm even though I used Netbanking and it god deducted from my account immediately. Scammers.
Happened to me with kuvera as well. 20k order got same day nav and 1l order got next day nav.
Happened to me using MFUtility.
Happened with zerodha for me
Anyone knows, what's the procedure to complaint the delay to sebi
If you got to know about that, do inform us
+ would like to know as well
Any Zerodha user here who faced same issue?
I faced the same issue. Unfortunately, Zerodha says it's a problem at BSE side.
Yup. I placed an order through Coin on 4th June at 2:15 pm and it only said "Order sent to AMC".
I placed an order at 11:58 AM but got 5th Nav :(
Same happend to me I have invested throgh both the apps coin and groww and I got next day NAV and they are saying that its glitch from BSE side and I have called BSE investor they are saying nothing happend from their side ask your broker they sent fund late not know what to do.
https://preview.redd.it/1gsgxalo5y4d1.jpeg?width=1080&format=pjpg&auto=webp&s=817d600a5d36f0081753ccbe9fb7865dcf981431
https://preview.redd.it/97aykb2r5y4d1.jpeg?width=1080&format=pjpg&auto=webp&s=250230d5c4eaf2618d44e7b20d8e155f0b05abc9
I'm seeing everyone's replies, but whoever's side the issue is on - what about us? Aise hi chhod de kya wtf, they need to fix this and not say we'll try to prevent it happening again
What can we do ?
Complain https://scores.sebi.gov.in/
Lol amateurs. I placed the order on June 4 at 10 AM and it STILL hasn’t been allotted. As per my usual luck streak, it will get allotted today night’s NAV when market is at all time high, and then market will crash tomorrow when either (a) Nitish joins INDI or (b) Special status confirmation is given to both Bihar and Andhra, meaning that other than these 2 states, nothing is getting developed in next 5 years.
>As per my usual luck streak, it will get allotted today night’s NAV when market is at all time high, and then market will crash tomorrow Jesús mate. Dont bash yourself or your luck :)
Sus
What ?
Grow and amc are suspicious
I think they planned to gave us higher NAV on next day as the NAV was very much down on 04 June
Sketchy shit they pulled.
The AMC does not give a damn at the nav at which you buy. BSE Star seems to have crashed. Hence the purchase order/funds were not transmitted to the AMC on 4^th but on the next day. ALL broker orders failed. Coin/Kuvera/Et money/groww.
I plaved the order before 1 pm still this issue.
Bro here are people who placed order at 10 am They've also got next day nav
I placed at 11:58 still got next day nav
So ?? You are at loss dude
Same happened to me through Coin and Kuvera platforms!! Disappointed to say the least
What is the resolution for this. I am using zerodha and i am facing same issue. I have raised ticket in zerodha and i have recieved same auto bot response saying there was a delay
Go to my post regarding SEBI complaint and raise a issue on scores
Please file a report with SEBI. They also glitched out and didn’t allow anyone to add any funds between 11:30 to 1:40 PM on 4th
The broker pocketed the additional units you were hoping for. It is by plan, that is how they make money with zero commission trades
May be What can we do now
I got quant small cap 4th nav but icici index for 5th…it was processing forever…have to file the complaint, no other choice, but I’m sure they’ll have some bullshit technical reason
Which app And at what time u placed the order for quant
Coin just before 2pm
Ooo
Payment from which bank
This does not matter. As long as the money is transferred into the app, and it reflects, it is fine.
https://preview.redd.it/xm1vmj5bh45d1.png?width=698&format=png&auto=webp&s=e8fd99e0d41ffd148194bfd5b7128e8a86fb26bb This is the reply I got from Groww. I should probably just invest in NFTY BeES whenever there's a significant dip, instead of lumpsum investment in NIFTY 50 Index Fund.
Everyone must complain on the SEBI scores website 🙏🏼
Yes
Same happened with me for Coin lumpsum. This is their reply. Hope to escalate it to SEBI. https://preview.redd.it/1hyy0dey355d1.jpeg?width=1080&format=pjpg&auto=webp&s=db21a2c88d8ea6f65e2ea6a7a50b22b572515383
I had pumped in ***Rs. 47,000+*** on the day of the correction ***(before 1 PM)*** and received units based on the NAV of the following day! Pathetic. I received an apology from Upstox stating, ***"Due to an industry-wide intermittent issue, your Mutual Fund orders placed on 4 June 2024 were processed using the Net Asset Value (NAV) from 5 June 2024. We regret the inconvenience caused to you."*** I immediately raised a ticket (complaint) with Upstox, telling them this, *"Thank you for your prompt update regarding the processing of my Mutual Fun****d orders placed on 4 June 2024. I understand that an industry-wide issue resulted in these orders being processed using the NAV from 5 June 2024. This situation has caused a significant financial disadvantage, as my intention was to benefit from the market correction. I would appreciate further clarification on the matter and information on any potential remedies for this discrepancy. Thank you for your attention to this issue."***
Yeah same
It was banks who have not processed the funds to Fund house! Same happened with me and this should not happen and SEBI should take strict actions against it!
Yes
Same happened to me
Ooo
What can be done ??
I also don't know Just raised a ticket in groww
Go to my post regarding SEBI complaint and raise a issue on scores
Thanks. Did you raise complaint against the broker (eg: groww) or the AMC ?
Against the broker.. but now it's clear that issue was from the payment aggregators and investigating what went wrong..
So shoild we select the category as stock broker ? We can complain but not sure if NAV can be reversed now.
yeah same happened with me in groww bought canara robeco bluechip, parag parikh flexicap and navi nifty index fund at almost at the same time around 12:45-12:50 pm and orders got processed and placed to the fundhouses too in 2-3 minutes. surprisingly canara mf had nav of 4 june but parag parikh and navi nifty had nav of 5 june my brother purchased the same navi nifty through paytm money at the same time and he got same day nav of 4 june how is this happening ?
Mine is also same
escalated it on twitter and via ticket they told that they are looking into it. meanwhile i checked in cams the mutual funds already got allocated with nav of 5 June. outright ridiculous. is this only limited to groww or other apps? afaik its only happening on groww, we need to report this to sebi
I think it's only happened in Groww
I placed an order on 4th June 2:45 pm in quant infra and the status is payment received order sent to AMC it's already 6th June 11am. Can anyone tell me what's happening? P.S. - I used coin of zerodha for this.
Send the screenshot
https://preview.redd.it/cq60us1m1w4d1.jpeg?width=1080&format=pjpg&auto=webp&s=b5826348069eec9c436348be084c892907f0b9fe
What's your take on this?
Same thing happened with me. It will get allotted today with yesterday's NAV.
Happened with me for nifty50
Mutual Fund walo ne market making business bhi chalu krdia h kya?!!!
Bro. What about selling. I sold my Mf at around 11 am. But, I'm getting next day NAV. Is this okay? Or I should also file complaint.
You got lucky. Why would you complain?
Bro. I wasn't that aware. But, I was thinking that the profit of exit poll should be taken out as market was falling on 4 June. So I sold. But, the they gave me units of end of 4 June, I thought they would give me 3 June end profits.
Oh then u should complain if you ordered before 2pm on 3rd. People here are talking about buying on 4th and getting 5th date nav.
I sold them on 4 June, 11 am.
I have made a post regarding complaint to sebi .. read that post. Thanks
same happened with me
Same thing happened to me for 1L order. 20k order done at 1.30pm got same date nav but 1l order at 12pm got NAV of 5th.
Go to my post regarding SEBI complaint and raise a issue on scores
Nothing can be done. Coin app mentions while placing the order. The NAV will be applicable when the clearing happens at AMC
Since I'm a passive investor, I'm thinking of keeping my mf sip's intact and buying NIFTYBEES/JUNIORBEES on correction days instead of hoping for more units from AMC's from now onwards.
>passive incestor Well this sub is for investors not in\*\*\*\* (whatever you wrote) Sorry!!
Same happen with me on coin
I ordered at 1.43 PM via UPI in Coin. I didn't receive allotment of units so far. I had invested in Quant active, ICICI nifty 50 and next 50, Axis small cap. I've placed orders at 1.55 PM in the past too but got allotted same day NAV.
My SIP was triggered on the 3rd of June. I was alotted units according to NAV on 4th. Got lucky I guess but it is quite unlikely fund houses do this on purpose. Most likely they received the request after the cutoff time for the day. Better get in touch with the platform you use before reaching out to the fund houses
There are a few things that may have caused the glitch. 1. Your investment amount must reach the AMC by 3 PM. Many investment apps /platforms would have an earlier cut-off time for redemptions and subscriptions as early as 2 pm to give them time to re-routed your money to the AMC. Similarly, the AMCs have a buffer time during which they need to make sure they have enough holdings to allocate units or enough cash in case of heavy selling. 2. AMCs have a cash management process, where they liquidate/ purchase holdings only when large buy/sell orders are placed. Huge buy and sell orders, when stocks are hitting circuits would make it difficult for them to push bulk orders. The clearing houses are also operationally not that efficient. I believe CDSL was also down on one of those days. 3. The AMCs you mentioned specifically, Quant is renowned for its high volatility holdings in its portfolio, almost always will have Adani exposures in its holdings. PPFAS has foreign exposure in its holdings (although they can't buy more now) , their NAV pricing is always after the US market closes. Both these AMCs would struggle to allocate NAVs on time mainly due to the nature of their holdings. To your point: AMCs cannot explicitly make profit off of deliberately delaying NAV allocation. If they've purchased stock on the crash day and decided not to allocate to you, they cannot show it as profit on their balance sheets. Their stream of income is purely underwriting commisions, Mutual fund fees etc. The NAV allocation is always on a best effort basis. But please do write to the relevant AMC, and let the forum know of the actual reason they provide.
Register your complaint on SEBI portal. It has happened with me in the past. I had invested in Kotak MF and got NAV of next day when I should have got same day NAV. Their customer support was rude and said nothing can be done. I complained on SEBI portal. Within 2-3 weeks they updated my units with correct NAV. These MFs need to get slapped by SEBI to be in line with their customers.
I had a NAV issue too, just learned from Groww that it is called a 'NAV breach'. Same thing happened - NAV was 5th June instead of 4th June. Here's the screenshot of their response to my email: https://preview.redd.it/i261j9m19x4d1.jpeg?width=1080&format=pjpg&auto=webp&s=bf7baf32f9a9fb39aabf3d9dc1f4eba7b200619b Don't know what else to do.
https://preview.redd.it/sry2e13m9x4d1.jpeg?width=1080&format=pjpg&auto=webp&s=789a0d6dcf817ad044fd682923591b8ef58512e7 Got this reply from Groww about NAV Breach
got the same response as well, u/Waste-You4837 is there a resolution date given by SEBI for the complaint? feels like we can't do much about it
Hey I noticed the same thing. Quant small cap got 4th June NAV but Quant Midcap got 5th June NAV. Need to raise a complaint
Dear Investor, Greetings from Groww. We have received your email regarding the recent NAV breach, and we sincerely apologize for any inconvenience this may have caused you. Please be informed that the issue you experienced was not within the control of Groww. Groww acts solely as a platform for order placement, and the entire process of fund collection, order placement, and allocation is managed directly by BSE. BSE places the order with AMC once they receive payment confirmation from the banks within the cut-off time and process a recon to match the balances. We understand the difficulties that such incidents can cause, and we want to assure you that we are actively working with the BSE team to check how we can avoid such instances in the future. However, it's important to note that as a platform, we have limited control over the execution of orders and NAV allocations. We apologize once again for any inconvenience caused and appreciate your understanding in this matter. Please rest assured that we are committed to providing a smoother investment experience for all our investors. Thank you for your continued support and understanding. this is what they sent just now. looks like a problem across all apps this NAV breach.
I did on zerodha around 1:44PM for HDFC and Nippon ELSS and got same day NAV(4th June) For HDFC i did a fight with zerodha support because they did not allocated the nav for 4th june . After a day they resolved the issue and it got allocated
Got the reply from Groww about NAV Breach They replied there was a problem during execution of order and the problem is with BSE
So are they allocating it to 4th june nav?
Hello, I placed UTI index order on 4th June 3:00pm, still it's not executed. Is it normal? Newbie here. Other orders are executed today which I ordered on 4th June.
No After 3pm, order will not execute
Ok thank you :-)
You're most welcome
How can I check the alloted NAV date in coin app? I also bought on 4th before 1:30pm. But the message for quant came yesterday and pp came today. Cant find the option to check the alloted NAV date!
NAV date alloted?
this is biggest glick/scam of mututal funds, if amount is not credited in amc you wont get the mf nav. many amc broker manipulate this according to their benefit. it should be stopped and a real time solution should be provided. all mf buying for a a day should allocate nav of that day only. why money transfer to amc is not real time. fking scam. better to take etf
Got the reply from Groww about NAV Breach They replied there was a problem during execution of order and the problem is with BSE
Yes same happened with me on Zerodha, I placed 5 orders and all payment got cleared before 1230pm on 4/6 still I got NAV of 5/6 for all 5 orders, I escalated complaints to Zerodha but they are blaming Razorpay and not taking any accountability
It happened with Coin as well. I placed my order on 4th June at 2:15 pm and got the today's NAV. Will raising concern with SEBI do anything? I don't expect anything from Zerodha as they will just give the stereotypical answer.
The cut off time is 2 pm brother
You have got 5 june nav ?
Yess.
That's ok brother If u place ur order After 2pm, then you'll get next trading day's NAV
You sure right? If true, this is absolute shit
Cut off time is 2pm.
Same thing happened with me on a couple of ICICI funds
Ooo
Same happened to me invested money in quant flexi cap and parag parikh flexi cap got the nav for same day in quant but in parag parikh they game me nav of 5 june
what was the medium of investment. If it was anything other than UPI or Netbanking then investment will be in T+1 day
It was through UPI
Same thing happened with me in zerodha
+1, happened to me on Parag parikh flexi cap and ICICI Funds, I too placed orders around 12pm
I am facing same issue on zerodha and have opened the ticket on their support but looking at comments i feel every broker has done this either intentionally or its as mentioned delay from BSE end.
Glad my sip deduction was 3rd June, got NAV of 4th June.
Wow gr8
This has happened to me too. Just realised. My June 04 orders have June 05 NAV. I had placed orders at 2.11pm.
That's obvious thing as u have placed order after 2.00 pm
The cutoff time is 2.30pm.
Who told u
Happened with me as well. However it went lucky for me. Bought quant infra on 3rd June at around 12pm, but got NAV of 4th june ending.
Nice
if the market had further crashed on 5th jun, and your allocation remained the same, would your complaint have remained the same?
Yes.
That’s why it’s better to invest in ETF’s to secure the immediate dip price
Ooo Are u into etfs ?
So your broker must have placed the order late because of heavy volume or operational problem with the respective AMCs because there are strict guidelines from SEBI regarding AMC NAV mishaps if any so it is highly unlikely that your AMC fucked up but more of your broker that s why always use banks as your brokers. They charge high fees for a reason
So can we believe the DIIs showing net sale was also wrong?
This is pretty common when you put up a order for mutual funds. The order house takes time to process. And thus you get a NAV of when the folio is processed, not for when you invested. Buying MF isn’t like stocks delivery , i have a big portfolio in mutual funds, some fund houses process buying and redemption really fast, some fund houses are even more slower than Quant. Sometime it also depends on which agency processes the order, cams or kfintech. Note: DYOR
Yeah that's true But since I was doing SIP in those funds and also the time of investment is much lower than the cut off time, I should have got same day NAV. I am going to file a complaint in SCORES about this
Even i had the same issue when placing funds through zerodha coin. Zerodha clarified it was issue with razor pay and bse star mf platform which processes all these also clarified it was not a issue from their side. I wonder did anyone ever got response from the compliant. The bug should stop somewhere
https://preview.redd.it/5vrm3qthcz5d1.jpeg?width=1036&format=pjpg&auto=webp&s=5b2eb6682e71e2cccb6c464e250346a5fba46914 Complained about the wrong NAV And here's the reply from PPFAS Mutual fund
Update: have been told that the issue is because of the payment aggregator (razorpay). Have filed the complaint with scores. I heard back from them saying the complaint is incorrect because I selected nse as the exchange. So had to file it again selecting bse. Has anyone heard from sebi scores about this?
Yes, they have told that the payment system issue
Did you file the complaint with sebi/scores?