I have received following SMS
CDSL:DEBITED IN A/C ********* PURSUANT TO REDUCTION OF SHARE CAPITAL FOR 1000 SHARES OF SUBEX LIMITED (FORMERLY SUBEX AZURE AND CREDIT FOR 1000 SHARES OF SUBEX LIMITED (FORMERLY SUBEX AZURE (PENDING LISTING) ON 30/10/2020 .WATCH OUT FOR LISTING DATE.
Subex limited was recently suspended by BSE, what is this sms about?
I think there was some corporate action and ISIN for shares of Subex was changed, so the shares under old ISIN were removed from your Demat and under new ISIN were credited to your Demat account. Can check this exchange filing by the company.
Subex last traded as face value 10 on 21 October 2020 .after 50% reduction of equity , it will re-list as face value 5 ( no compensation to shareholders) as and when regulatory formalities are concluded . the 1000 new shares of face value 5 with temporary ISIN you have received as credit are in exchange of 1000 old shares of face value 10 debit . this temporary ISIN will turn in a regular isin on listing approval .
When is the listing?
Right now Subex is in suspension by exchange? Once again listed will this suspension by exchange revoked?
The date of listing hasn’t been announced yet.
The stock is suspended for procedural reasons, once all this is done and the stock is relisted the suspension too should be revoked and trading will resume again.
Suspension is because of capital reduction process . …face value 10 will be face value 5 as and when RE-LISTING take place with same quantity of shares in hand . RE-LISTING should take place in about 15 days days from now or may be earlier too as the company has already credited the 5 face value share with temporary isin.
There will be a circular at bse/nse website at least one trading day before re-listing of share .
SUBEX is re-listing from 5 November 2020 …as per rule the scrip will trade in T2T for 10 trading days after a price discovery similar to new listing , from 9 am to 9.45 am …if equilibrium price is discovered first quote will by 9.50 am .