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.
Issue details
Ex-date
August 14, 2020
Record Date
August 17, 2020
Ratio
1:27
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.
Is there any way that whenever any company issue right entitlements then i would have been notified by zerodha through notification?
Or I have to check daily by myself??
Hi Shubhas, I have subscrited to Minda Ind. rights issue on 25th Aug. Till now I haven’t received any confirmation email from Minda Ind or BSE. But my amount was deducted from the account and I can see Minda-RE in my holdings before I made the payment. How to confirm whether my subscription was successful or not?
You will now have to apply for rights shares via RTA’s website or through Netbanking ASBA.
As mentioned above.
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.
Hi Shubh,
Can u pls. help me out to know the exact procedure for this, and if i will not do anything for this than what will happen to these shares in future pls. confirm.
Visit the RTA’s website mentioned above, select Company Name, you have bought RE’s from market so select “Renouncee” option, enter your DP ID, (the process to obtain your DP ID is mentioned above) and proceed further to enter your other details, next you will have to enter how many shares you want to apply for, make payment and done.
Hello sir,
if I buy RE from open market on 3 september,then it will not show on my portfolio bcz it is the last date of trading. Can I apply for rights share on 4th sep?
The RE’s will be credited to your Demat account on 5th September if you buy on 3rd September, you can apply then, you will have time until 8th September to apply for rights shares.
So if i buy at current market price i.e 70 rs. Then additionally i have to 250 per share? correct?
and i can apply like M&M financial RE ? Its similar right?
I have bought from open market 100 share. I will apply to rta than what is for open market share my money will be back or it will hold in my account. Please guide
Than how should I deal with. I can buy it from rta and my money will be adjusted with and I can buy 100 share from rta? I bought it Friday @75 100 share please explain
As I said above, the money you have paid to purchase the RE’s, goes to the shareholder who sold the RE’s to you. This won’t get adjusted towards amount you have to pay while applying for rights shares.