What is Initial Margin(IM) in Pay Later (MTF)?

It is the Margin that is required by the user to pay in cash or collateral in order to take a position. The IM is certain fraction of the total buy value. The Margin requirement various from stock to stock. Click here to check the stock list.

For example: TCS is trading at Rs.3000 and has 5X exposure hence the initial margin requirement would be R.750 {Rs.3000/4}