Minda Industries will issue Right Entitlements (RE’s) to anyone who holds its shares as on August 17, 2020.
These RE’s will be temporarily traded on the stock exchanges and will then be extinguished.
You can either use the RE’s to apply for the rights shares of Minda Industries or you can sell them in the market.
You can check the announcement from the company here.
|Ex-date||August 14, 2020|
|Record Date||August 17, 2020|
|Issue Price||₹ 250|
|Issue Period||August 25, 2020 to September 8, 2020|
|RE Trading Period||August 25, 2020 to September 3, 2020|
|Tentative Date of Allotment||September 17, 2020|
|Tentative Date of Listing||September 22, 2020|
How to apply for Minda Industries rights issue?
Once you either receive the RE’s from the company or purchase it from the market, you can apply for the rights shares using Netbanking ASBA, you can check the process in this post. You can verify your entitlement on the website of the Registrar & Transfer Agent.
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying either on the RTA’s website or through Netbanking ASBA.