Everything You Need to Know About L&T Finance Holdings Rights Issue

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.

Issue Details
Ex-Date January 21, 2021
Record Date January 22, 2021
Ratio 17:74
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.

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Hi, I hold 100 shares of L&TFH as of 22 January. I want to know whether this RE in the ratio of 17:64 will be credited to my demat account directly ? (If yes, then till when ?)

RE’s will be credited directly to your Demat account, the issue opens on February 1st, should be credited before that.

@ShubhS9 . I have been credited with 22 qty as preference shares in Console. How to remit amount?

Must be Rights Entitlement, as L&TFH has announced Rights Issue. You can check this post for more information: Everything You Need to Know About L&T Finance Holdings Rights Issue

Ok. Thank you @ShubhS9. It seems I have to apply through ASBA.

The issue opens on February 1st, you can also apply through RTA’s portal.

Ok. Thank ypu Sir.

@ShubhS9 i am unable to see in my holdings L&T Finnace RE?

You’ll be able to RE’s in your Kite holdings when these are listed for trading on 1st February.

Hi. Is rights issue amount to be paid in full or call wise. ASBA may not accept call wise, again may need to remit thru cheque.

You will have to pay full amount of Rs. 65 per share when you apply for rights shares.

I have recieved L&TFH-RE-BE share on my profile with some profits… its related to this right issue? and what should i do with it since i guess it gets extinguished by 15th Feb 2021… let me know

Yes.

You can either use the RE’s to apply for rights shares of L&TFH or if you don’t want to apply then you can sell them in the market during RE trading period (February 1st to February 10th).

The process to apply has been explained above in the main post.

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I am new to this. Can I sell L&TFH-RE-BE from broker and buy thrugh the given link above? Can someone pls reply

If you were holding L&TFH shares as on record date 22nd January, you will receive RE’s in your account. If you do not wish to apply for rights shares, you can sell the RE’s in the market like you normally sell any shares.

If you don’t have RE’s and wish to apply for rights shares, you can purchase RE’s in the market and use them to apply from the above given link.

Thanks for the info. I am seeing the RE shares are trading at 20rs. Is this the way of buying RE shares as opposed to 65rs said?

RE’s will be trading temporarily. You’ll have to use the RE’s to apply for rights shares.

Thanks again. I am seeing 80 RE shares in my account and would like to apply for RE. Is this the link for it (https://linkintime.co.in/RightIssues/index.html)?

Yes, you can apply from the above link.