Davangere Sugar Company Ltd. (DAVANGERE) will issue Right Entitlements (REs) to anyone who holds its shares as of May 27, 2022 (record date). These RE’s 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 Davangere Sugar Company or you can sell them in the market. You can check the announcement from the company here.
You will be eligible to receive Rights Entitlements (REs) if you have bought the shares on or before May 25, 2022. The ex-date is May 26, 2022.
|Ex-Date||May 26 , 2022|
|Record Date||May 27, 2022|
|Issue Price||₹ 12.5|
|RE Trading Symbol||DAVAN-RE|
|Issue Period||June 16, 2022 to June 30, 2022|
|RE Trading Period||June 16, 2022 to June 27, 2022|
|Tentative Date of Allotment||July 5, 2022|
|Tentative Date of Listing||July 6, 2022|
Once you either receive the REs from the company or purchase them from the market, you can apply for the rights shares using Netbanking ASBA or offline by submitting a Application Form to the Designated Branch of the SCSB (Self Certificate Syndicate Bank). You can check the process in this post .
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying for the rights issue.
You can check the list of SCSBs here
Note: The option to apply for rights shares through the RTAs portal is not available for this rights issue.
If you face any difficulties applying for the rights issue, you can get in touch with the RTA at [email protected] or at +91 80 2346 0815 to 819
Your REs will lapse and you will lose the premium paid to acquire them. The RE will be in the form of temporary demat securities which will lapse if not renounced/exercised once the trading window is closed.
In case you have bought REs but don’t have shares, you’re still eligible for the rights issue. You may apply for the rights shares either through the RTA’s portal or via net banking ASBA if your bank allows it. If you don’t take any action, and let the REs remain in your Zerodha account, they will lapse after the issue.
You can read more FAQ’s on Rights Issue and Rights Entitlements here.