General

Do I need to allocate funds for placing a Stock SIP Request?

Amount based Stock SIP is a SIP type wherein a fixed amount (or approximately the same) is invested in your desired scrip at each frequency.

In case of Amount based SIP, you need to specify the amount to be invested in the scrip at your desired frequency.

At the time of placement of your Stock SIP order, since quantity of shares has to be specified, the same will be calculated by dividing the Stock SIP amount specified by you with the market price of the scrip at the time of order placement

The formula would be Quantity = Stock SIP Amount / Market price. Any fractional quantity will be ignored and order will be placed for the balance quantity. The actual order value would be based on the market price for the quantity so calculated above.