The Net Asset Value (NAV) that will be applied to your purchase depends on the time when the payment is made.

Key Condition

• Cut-off Time: 3:00 p.m.
• If payment is made before 3:00 p.m.: The closing NAV of the same day is applied.
• If payment is made after 3:00 p.m.: The closing NAV of the subsequent working day is applied.

Examples with Hypothetical NAV Values

• NAV on 3-Jun-2024: ₹100
• NAV on 4-Jun-2024: ₹105
• NAV on 5-Jun-2024: ₹103
• NAV on 6-Jun-2024: ₹107

Example 1: Payment Made Before Cut-off Time

• Date: 4-Jun-2024
• Time of Payment: 2:00 p.m.
• Applicable NAV: ₹105 (closing NAV of 4-Jun-2024)

In this case, since the payment was made before the cut-off time of 3:00 p.m., the NAV that will be applied to the purchase order is the closing NAV of the same day, 4-Jun-2024, which is ₹105.

Example 2: Payment Made After Cut-off Time

• Date: 4-Jun-2024
• Time of Payment: 4:00 p.m.
• Applicable NAV: ₹103 (closing NAV of 5-Jun-2024)

Here, the payment was made after the cut-off time of 3:00 p.m. Therefore, the NAV that will be applied to the purchase order is the closing NAV of the next working day, 5-Jun-2024, which is ₹103.

TLDR :

• Payments made before 3:00 p.m. on any given day will have the same day's closing NAV applied.
• Payments made after 3:00 p.m. will have the closing NAV of the subsequent working day applied.