What is unpledging of shares?
In case clients have pledged shares & pay back the loan amount or clear their ledger debits and associated dues, they can unpledge their shares from the lenders.
Subsequent to the unpledging of shares, they can be transferred and the lender shall cease to have all rights with respect to the pledge.
How to unpledge shares pledged as collateral with SAMCO?
At SAMCO, similar to pledging their shares, clients can unpledge their Holdings right from the Holdings Section of the Back Office.
In case the Clients unpledge their share holdings, they can no longer avail the margins against the same against the SAMCO IntraPlus product.
What are share unpledge charges?
The charges to unpledge shares are also Rs.69 (Rs.60 plus 15% Service Tax) per scrip regardless of number or the value of Shares unpledged by the client.
Let us continue with the example we’ve taken when clients pledge shares:
- Ramesh wants to unpledge his 1000 shares of Reliance. He places the request from his SAMCO STAR Back Office & is charged Rs.69 for the same.
- Suresh had pledged 400 Shares of Reliance. He wants to unpledge 250 shares. He too places the request in the SAMCO STAR Back Office. He too will be charged Rs.69.
How are the share unpledge charges collected?
The unpledge charges are debited to a client’s ledger on successful un-pledging of the shares. Since these are non-trade charges, they are not charged to the contract note of the client.
Can shares once unpledged be pledged again?
Yes, unpledged shares can be pledged again and the same shall be treated as a fresh pledge.
What is Pledging of Shares and Pledge Charges?