India Grid Trust will issue Right Entitlements (RE’s) to anyone who holds its units as of March 30, 2021 (record date). These RE’s will be temporarily traded on the stock exchanges and will then be extinguished. You can either use the RE’s to apply for the units of India Grid Trust or you can sell them in the market. You can check the announcement from the company here.
|Ex-Date||March 26, 2021|
|Record Date||March 30, 2021|
|Issue Price||₹ 110|
|Issue Period||April 6, 2021 to April 16, 2021|
|RE Trading Period||April 6, 2021 to April 8, 2021|
|Tentative Date of Allotment||April 23, 2021|
|Tentative Date of Listing||April 27, 2021|
How to apply for India Grid Trust Rights Issue?
Once you either receive the RE’s from the company or purchase it from the market, you can apply for the rights shares using Netbanking ASBA or offline by submitting the Application Form to the Designated Branch of the SCSB (Self Certificate Syndicate Bank). You can check the process in this post.
You can verify your entitlement on the website of the Registrar & Transfer Agent. The R-WAP platform is not available for making application.
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying through Netbanking ASBA.
In case you face any difficulties applying for Rights Issue, you can get in touch with the RTA to the issue KFinTech at +91 40 6716 2222 or at [email protected]