Update: Indiabulls Housing Finance (now known as Sammaan Capital Limited) will be making the first and final call for the payment of partly paid shares. The company has fixed July 22, 2024, as the record date to determine the shareholders of partly paid shares to whom the final call notice would be sent. You can check the announcement from the company here.
As a result, the partly-paid shares of Sammaan Capital Limited (SAMMAANPP) will be suspended from trading on exchanges from July 19, 2024, and you will not be able to see these holdings on Kite.
| Event Schedule | |
|---|---|
| Payment | â‚ą 100 per share |
| Call Payment Period | August 8, 2024 - August 22, 2024 |
| Allotment & Listing | Within 2-3 weeks from the last date of payment |
How do I make the call payment
You can make call payment via the following modes:
- Netbanking ASBA: Through the website of the SCSB’s.
- Physical ASBA: Submitting a physical application to the Designated Branch of SCSB.
You can check the list of SCSB (Self Certified Syndicate Banks) here.
What will happen if I don’t make the call payment?
If you fail to pay the call money the partly-paid shares may be forfeited (the current Sammaan Capital Limited partly-paid shares you hold will be worthless and will not trade on exchanges as the company will allot new shares under different ISIN). The company may also levy interest on the amount you owe.
Indiabulls Housing Finance Ltd (IBULHSGFIN) has announced a rights issue of 24,62,26,515 equity shares aggregating up to Rs. 3,693.40 crores. The rights issue opens for subscription on February 07, 2024 and closes on February 13, 2024.
Anyone who holds shares of Indiabulls Housing Finance Ltd. as of February 01, 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 January 31, 2024. The ex-date is February 01, 2024.
Rights issue details
| Issue Period | February 07, 2024 - February 13, 2024 |
|---|---|
| RE Trading Period | February 07, 2024 - February 8, 2024 |
| RE Symbol | IBUL-RE |
| Issue Price | Rs. 150 per share (Rs. 50 on application) |
| Ratio | 1:2 |
| EX-date | February 01, 2024 |
| Record Date | February 01, 2024 |
| Tentative Date of Allotment for rights shares | February 22, 2024 |
| Tentative Date of Credit of rights shares | February 26, 2024 |
| Tentative Date of Listing for rights shares | February 28, 2024 |
This is a partly-paid issue, meaning you only have to make part payments at the time of application.
| Amount payable per equity share | Face Value | Premium | Total |
|---|---|---|---|
| On Application | 0.67 | 48.33 | 50.00 |
The outstanding subscription money of 100 will be called within 12 months from the date of allotment in the issue or within such an extended time period. The company is yet to publish these specific details.
If you continue holding partly-paid shares of Indiabulls Housing Finance Ltd. when the company makes a call for the balance payment, you will be liable to pay the balance sum. If you have sold the partly-paid shares, the buyer will be liable to pay the sum.
How to apply for Indiabulls Housing Finance Ltd 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;
- Online via Netbanking ASBA
- Offline by submitting the Application Form to the nearest branch of SCSB (Self-Certified Syndicate Bank)
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.