When will the shares leave lenders demat (SLBM)?

Shares lent will exit the lender's demat on T day itself. In case of an early Pay-in (Kotak Neo) otherwise the shares leave the Lender’s DP on T+1 day.

The same share will come back to the lender’s DP on the expiry of the SLB Contract which is the first Thursday of the expiry month.