Spencer’s Retail will issue Right Entitlements (REs) to anyone who holds its shares as on July 29, 2020. These REs 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 Spencer’s Retail or you can sell them directly.
You can check the announcement from the company here .
Issue details
Ratio
2:15
Issue Price
₹ 75
Issue Period
August 4, 2020 to August 18, 2020
RE Trading Period
August 4, 2020 to August 13, 2020
How to apply for Spencer’s Retail 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 can apply for the issue using this link to the RTA’s portal.
The rights shares are tentatively listing on August 27th.
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.
please specify the last day on which premium of 75 must be paid to ensure rights share are not extinguished.
Also based on ratio will RE shares appear automatically in acc ?
Last date to apply for rights shares is 18th August.
Yes, if you held Spencer’s shares on record date (July 29), RE’s will be credited directly to your Demat account by the time issue opens for subscription.
You should raise this issue to the RTA, you can find contact details on this page.
Alternatively, you can apply via your Bank’s Net Banking ASBA portal as well. The process is similar to process of applying for IPO, if you don’t know, you can this post to know the process.
I don’t understand why people are applying for rights issue. They can sell the RE shares and directly buy Spencer’s shares from market at 10 rupees discount.
Hi, I have bought Spencer’s right issue in open trading session. It is not reflecting in my portfolio/holding now. Please let me know the status of my investment in Spencer-RE
The trading window for RE’s has closed, so you will no more see them in your holdings, though they are still in your Demat account and will remain until Issue closes on 18th August.
So, make sure you are applying for rights shares or the RE’s you have bought will expire worthless.
I bought Spencer RE shares and I would like to buy the rights shares, I went to https://linkintime.co.in/RightIssues/index.html filled my details but every time it says incorrect DP/Client ID, I have added the 16 digits that you see in Cosole->account/demat. Could you help here?
You need to ensure that you’re using the 16-digit ID available here. The DP Name is Zerodha Broking Limited.
Should you see an error ‘Invalid DP ID/DP account’ you can split the demat account number (16 digits) as DP ID: 12081600 and DP account: the remaining 8 digits.
Alternatively, you can apply via your Bank’s Net Banking ASBA portal as well. The process is similar to the process of applying for IPO, if you don’t know, you can read this post to know the process.
Should you see an error ‘Invalid DP ID/DP account’ you can split the demat account number (16 digits) as DP ID: 12081600 and DP account: the remaining 8 digits. https://linkintime.co.in/RightIssues/index.html page only has 16 fields cannot split. I get below error:
You need to click on Renoucee option if you have purchased RE. It will work.
You are getting invalid DP as you might didn’t have any shares on 29th July.