L&T Finance Holdings will issue Right Entitlements (RE’s) to anyone who holds its shares as on record date January 22nd, 2021. You can check the announcement from the company here.
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 rights shares of L&T Finance Holdings or you can sell them in the market.
|Ex-Date||January 21, 2021|
|Record Date||January 22, 2021|
|Issue Price||₹ 65|
|Issue Period||February 1, 2021 to February 15, 2021|
|RE Trading Period||February 1, 2021 to February 10, 2021|
|Tentative Date of Allotment||February 23, 2021|
|Tentative Date of Credit to Demat||February 24, 2021|
|Tentative Date of Listing||February 26, 2021|
How to apply for L&T Finance Holdings 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, you can check the process in this post.
You can also apply for the Rights Issue through the website of the Registrar & Transfer Agent. The website may not be fully functional until the issue opens.
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying either on the RTA’s website or through Netbanking ASBA.