I had been alloted 20 Nos. of VEDL-P1 Shares by Vedanta Ltd. on acquiring Cairn India along with 5 Shares of VEDL in lieu of CAIRN INDIA Shares i held before.
Can i hold this VEDL-P1 Shares as long as i wish or it has any validity?
This is an excerpt from the Cairn-VEDL revised terms for merger.
The VEDL RPS shares come with a coupon of 7.5% for a tenure of 18 months from issuance. You’ll stand to benefit if you hold the shares. You can also exit these RPS shares at any point by directly selling it in the secondary market just like how you sell any other share.
VEDL-P1 is the share you’ve to load on Kite to initiate your sell transaction.
You will get 4 Redeemable Preference Shares with a face value of INR 10 in Vedanta Limited, with a coupon of 7.5% and tenure of 18 months for each Cairn share held.
That means after 18 months the shares will be redeemed and you will receive the proceeds in cash. The shares will be redeemed at par(face value of Rs.10).
The preference shares are non-cumulative, meaning you will receive dividends only if the company makes profit and arrears won’t be accrued, unlike cumulative preference shares. The frequency of the dividends depends on the company.
Hi, by mistake i bought vedanta limited 7.5% non con pref shares(500) instead of vedanata limited equity shares, in Hdfc securities, now the scrip is showing in portfolio but not demat account. the scrip is showing suspended, how to exit from this please help on this, thanks in advance.
thank for ur reply.
3. In terms of Regulation 60 of Listing Regulations, the record date fixed for the
purpose of redemption of RPS and payment of dividend is Monda¡ October 22,
2018.
when can i get redemption of my shares???