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 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.