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.
|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 .
|Record date||August 5th|
|Issue Price||₹ 60|
|Issue Period||August 12 to August 26|
|RE trading Period||August 12 to August 21|
|Yet To Be Announced||7.5||37.5||45|
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.