1. Initially, the stock needs to be pledged by you under the margin pledge module. Once you take the funding, IIFL Securities will initiate the BMFD earmarked pledge of the given pledge stocks.
2. IIFL Securities will send an OTP link to your registered email ID / Mobile number on T day for all approved purchased stocks, with the execution date of T+1 to pledge the BMFD funded stocks.
3. You have to authenticate the pledge by 4:00 pm of T+1 settlement. However, we advise you to confirm the OTP on T day only to avoid any last-minute technical issue. You can authenticate the OTP using an NSDL DP Account or CDSL DP Account.
4. OTP link is sent with Pledgee Demat Account No: IN302269 -14850702 for NSDL Demat Account and 1204470011617961 for CDSL Demat Account.
5. Link sent to you by depositories while verification clearly identifies whether it is for Margin
Funding pledge or not. Therefore, you are requested to be careful before accepting the request.