Hello,
I had bought sintex industries shares before the record date, but has transferred the shares from DP to margin. I had 300 shares in DP and rest in margin. But now the shares of sintex plastic has been credited and I am seeing only 300 shares. When will I get the remaining shares ( which were in margin). Please let me know. I am not getting any proper response from my broker. I am really worried as I had bulk of my shares in margin on record date.
Regards
While you’ve pledged the stock, you continue to remain the absolute beneficial owner of such pledged stocks and are entitled to receive credit of all corporate actions such as dividends, bonuses, splits etc.
In your case, since the stocks are held in the demat account of the broker as on the record date on account of you having pledged them, your broker would receive such credit of de-merged stocks which he’ll pass on to you. The issue here is that to move such stocks, the ISIN of such stock has to be active in the depository system. If the ISIN is inactive, the broker wouldn’t be able to initiate a transfer.
The reason you receive credit of the demerged shares to your demat account for the shares you hold is because such credit comes directly from the issuing company.
You’ll have to wait till the ISIN gets active before the credit can take place to your demat account.