How does this Product help me in selling the shares pledged with ICICI Bank?
The unique facility to sell pledged shares online brought to you by ICICI Bank and ICICI Securities Ltd , takes care of this issue. You can place a "sell" request in a simple and hassle free manner ,online.
Who can avail this facility?
Any resident individual, who is a LAS customer of ICICI Bank, can avail of this facility.
How can I avail this facility?
Log on at ICICIdirect.com using your user ID and password. You can then place your sell request. This request will be sent to ICICI Bank. On ICICI Bank's acceptance of the request, it would be sent to the exchange for execution. The funds, after deducting the applicable service charges, will be directly credited to your account.
Whom do I need to contact in order to avail this facility?
Please contact your local LAS Relationship Manager.
Can ICICI Bank sell the shares pledged?
Yes, it can, under the terms of the loan agreement.
How do I log on at ICICIdirect.com?
You can do so by using your user ID and password.
What type of requests can I place through this account?
You can place a "sell" request in the cash segment through this account for the shares pledged by you. No "buy" request can be placed.
You may also place a limit as well as a market price request order.
Do I need to inform ICICI Bank as and when I want to place a "sell" request and sell my pledged shares through my ICICIdirect Account?
No. All you need to do is to simply log on at ICICIdirect.com with your user ID and password and place the "sell" request. You can place the request at any time of your choice. ICICI Bank reserves the right to accept or reject your request.
Can any request placed by me or order placed by ICICI Bank team be modified or cancelled?
Any orders placed by the ICICI Bank team can be modified or cancelled by the ICICI Bank team only. You cannot modify or cancel such an order. However, all requests placed by you can be modified or cancelled either by you or the ICICI Bank team.
When would I receive the sale proceeds?
The sale proceeds, after deducting applicable service charges would be directly credited to your bank account on the payout day.