A typical Mero Share issues is that when you try to sell your number of shares, Mero Share prompts you that you do not own the shares. The Mero Share section of the Mero Share dashboard sometimes does not display the shares. Users are unaware whether the merged shares have been transferred to their account in case of mergers and acquisitions.
But you don’t need to be worried about it right now. ‘MeroShare‘ has been reformed by CDSC. the mero share will now display information about which companies have merged and the time taken by those merged companies to complete the process.
- If the shares you bought a day ago are not showing on your MeroShares dashboard today, you can get a statement from the DP.
- Shareholders have long been critical of CDSC, accusing the DP of withdrawing shares in their name without their knowledge. Investors will be less critical today, and MeroShares will provide them with information about when their shares will be issued.
- An investor said, ‘CDSC had no information when issuing public shares and placing them in Global when it merged with Public and Global IME Bank. This is a complete and utter blunder.” What I have done is against the interest of investors, and it needs to be rectified immediately. He said that the actions of CDSC will have an impact on those who have mero share.
- Mero Share investors have no idea how much their shares are worth, how many lots they have, how much they lost when they went global and how much they lost when they went to CDSC.
- Investors have also complained that despite being listed in ‘Mero Share’, shares of any company are not offered through TMS.
- Most of the investors have claimed that they were unable to sell their shares even though they were in their Demat account.
- Another typical Mero share issue is that CDSC clearing occurs on the third trading day. This means that on the fourth day the broker sends the shares to the buyer’s Demat account, and the shares are available for sale only on the fifth day. This slows down the process and causes capital to freeze. Even when securities are cleared in three working days, it is usually not possible to sell the shares till the fifth day.
- Another common mero share issue is being unable to sell the shares you hold. One of the most common reasons for being unable to sell shares is to be in a closeout. This means that if the seller fails to comply with EDIS or DIS, the shares will be forfeited and will not be credited to your account.
- The second big reason is that once the money reaches the investor’s account on the third day at 8-9 pm. and is transferred to the share account on the fourth day, only the shares are eligible for sale on the next day, the sixth day. Shares appear in ‘Mero Share’ after being transmitted by the broker to the Demat account of the investor, but they are not eligible for sale.
- Another issue is that CDSC’s system and TMS do not communicate in real-time. Investors will see shares in ‘MeroShare’ but will hesitate to sell them through TMS due to a lack of real-time connectivity. Every day at 7 PM, the system provider of TMS, Vaiko PLC, synchronizes or pulls data from CDSC to TMS, and the data is saved in TMS. The shares will be available for sale on the next day only if the broker sends them to the buyer’s account before 7 pm; Otherwise, the system will call a short sell when you try to sell.
If you have any queries/feedback then feel free to comment below.