All You Need To Know About Satin Creditcare Rights Issue

Update: Satin Creditcare has fixed July 16, 2021, as the record date for the purpose of ascertaining the holders of partly paid-up equity shares to whom the final call notice would be sent. You can check the announcement from the company here.

As a result, the Partly Paid shares of Satin Creditcare will be suspended from trading on exchanges with effect from July 15, 2021, and you will not be able to see this holdings on Kite.

Event Schedule
Payment ₹ 15 per share
Call Payment Period August 6, 2021 to August 20, 2021
Allotment & Listing Within 2 to 3 weeks from the last date of payment

What are the modes for payment?

You can make call payment through the following modes:

  • RWAP: Through the website of the Registrar and Transfer agent.
  • Netbanking ASBA: Through the website of the SCSB’s.
  • Physical ASBA: By submitting a physical application to the Designated Branch of SCSB’s.
  • Cheque / Demand Draft.

What will happen if I don’t make the call payment?

If you fail to pay the call money the partly paid shares may be forfeited (the current partly-paid shares you hold will be worthless and will not trade on exchanges as the company will allot new shares under different ISIN). The company may also levy interest on the amount you owe.

Satin Creditcare will issue Right Entitlements (REs) to anyone who held its shares on August 5, 2020 (record date). In India, shares are settled to your demat account 2 trading days after being purchased. This means the last date you can buy the shares of Satin Creditcare to be eligible for the rights is August 3rd.

The REs credited to your account will be temporarily traded on the stock exchanges and will then be extinguished. You can either use the REs to apply for the rights shares of Satin Creditcare or you can sell them directly.

You can check the announcement from the company here .

Issue details
Ex-date August 4th
Record date August 5th
Ratio 48:125
Issue Price ₹ 60
Issue Period August 12 to August 26
RE trading Period August 12 to August 21
Schedule Face Value Premium Total
On Application 2.5 12.5 15
Yet To Be Announced 7.5 37.5 45
Total 10.0 50 60

How to apply for the Satin Creditcare Rights Issue?

Once you either receive the REs from the company or purchase it from the market, you will need to 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 . The website will not be completely live until the issue opens.

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 your bank.

Similar to this recently hdfc has issued warrants as part of its fund raising plan. Will the warrants also be available for trading ? Similar rights entitlement. Pls enlighten

They are planning to issue NCD (Non-Convertible Debentures) these are different from RE’s.

Hdfc issues warrants and NCD they have issued both NCD as well as warrants

Yes, going by the article it looks like Equity Shares, NCD’s and Warrants were offered only to Institutional Investors.

isn’t this a partiality ? why couldn’t people like you and me participate ?

I don;t see the payment link on linkin (RTA). Is ASBA (bank branch NOT online) only option?

Hello sir i have made payment for Satin Re but there is payment deducted but not success and mail also not received for this transaction.

Want to buy Satin RE rights. How to do it in Kite?

The RE trading period for Satin Creditcare has closed, you cannot buy the RE’s now.