Everything you need to know about Dipna Pharmachem Limited rights issue 2024

Trading Announcements
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Dipna Pharmachem Limited. (DPL) has announced a rights issue of 1,29,67,500 equity shares aggregating up to Rs. 12.97 crores. The rights issue opens for subscription on February 26, 2024 and closes on March 07, 2024.

Anyone who holds shares of Dipna Pharmachem Limited. as of February 12, 2024 (record date) will be eligible for receiving Rights Entitlements (REs). 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 the 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’ve bought the shares on or before February 09, 2024. The ex-date is February 12, 2024.

Rights issue details

Issue Period February 26, 2024 - March 07, 2024
RE Trading Period February 26, 2024 - March 04, 2024
RE Symbol DPL-RE
Issue Price Rs. 10 per share
Ratio 13:12
EX-date February 12, 2024
Record Date February 12, 2024
Tentative Date of Allotment for rights shares March 14, 2024
Tentative Date of Credit of rights shares March 15, 2024
Tentative Date of Listing for rights shares March 18, 2024

How to apply for Dipna Pharmachem Limited Rights Issue?

Once you either receive the REs from the company or purchase them from the market, you can apply for the rights shares using the below methods;

You can check the application process here.

You will need to enter your Demat account’s Beneficiary Owner ID which is a 16-digit number while applying for the rights issue.

The option to apply for rights shares through the RTAs portal is not available for this rights issue.

What will happen to my purchased holding of RE shares if I do not apply for the rights issue?
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.

I don’t have the shares but bought REs, am I still eligible to apply for the rights issue?
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 FAQs on Rights Issue and Rights Entitlements here.

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How can I sell DPL shares right now lot is is 6250. I bought when the lot size was 3000 and right now I have 6000qty

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This stock falls under the SME category, typically trading in lot sizes. During corporate actions, the lot size adjusts according to a specified ratio.

In the mentioned ratio, for every 12 shares held, you receive 13 Rights Entitlements (REs). To participate in the rights issue, you need to apply either through ASBA or offline methods. Upon successful application, you’ll receive 1 share for each RE held.

For example, if you currently hold 6000 shares, applying the ratio calculation ((6000/12)*13), you would receive 6500 REs. After applying for the rights issue at 10/- per share, you’ll receive an additional 6500 shares according to the specified dates. This brings your total quantity to 12500 shares, which equals two lots in your account, allowing you to sell them in the secondary market.

It’s important to note that until the rights issue process is completed, you won’t have multiple lot sizes. Exiting from these shares during this period is not possible, as the process is lengthier compared to other corporate actions such as bonuses and splits.

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Can I apply for 250 REs and sell the rest?

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Yes. You can do this.

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Can Ik the RTA linked to this company?