Update: Nakoda Group of Industries Limited will make the first call for the balance payment of partly paid shares. August 14, 2024, is the record date to determine the shareholders eligible for the final call notice. You can check the announcement from the company here.
As a result, the partly-paid shares of Nakoda Group of Industries Limited (NGILPP) were suspended from trading on exchanges from August 13 2024, and you are no longer able to see these holdings on Kite.
You can check the announcement from the company here.
| Event Schedule | |
|---|---|
| Payment | â‚ą 8.75 per share |
| Call Payment Period | September 09, 2024 - September 23, 2024 |
| Allotment & Listing | Within 2-3 weeks from the last date of payment |
How do I make the call payment?
You can make the call payment via the following modes:
- Netbanking ASBA.
- Physical ASBA: Submitting a physical application form to SCSB’s designated branch.
You can find the list of SCSB (Self Certified Syndicate Banks) here.
What happens if I don’t make the call payment?
If you fail to make the payment, the company may forfeit the partly paid shares you hold and may also levy interest on the amount owed.
Nakoda Group of Industries Limited (NGIL) has announced a rights issue of 50,90,056 equity shares aggregating up to Rs. 12.73 crores. The rights issue opens for subscription on June 13, 2024, and closes on June 28, 2024.
Anyone who holds shares of Nakoda Group of Industries Limited as of May 30, 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 May 29, 2024. The ex-date is May 30, 2024.
Rights issue details
| Issue Period | June 13, 2024 - June 28, 2024 |
|---|---|
| RE Trading Period | June 13, 2024 - June 24, 2024 |
| RE Symbol | NGIL-RE |
| Issue Price | Rs. 25 per share (Rs. 6.25 on application) |
| Ratio | 4:10 |
| EX-date | May 30, 2024 |
| Record Date | May 30, 2024 |
| Tentative Date of Allotment for rights shares | July 05, 2024 |
| Tentative Date of Credit of rights shares | July 10, 2024 |
| Tentative Date of Listing for rights shares | July 15, 2024 |
This is a partly-paid issue, meaning you only need to make a partial payment at the time of application.
| Amount payable per equity share | Face Value | Premium | Total |
|---|---|---|---|
| On Application | 2.5 | 3.75 | 6.25 |
| One or more additional calls as may be decided by the company | 7.5 | 11.25 | 18.75 |
| Total | 10.00 | 15.00 | 25.00 |
If you continue holding partly-paid shares of Nakoda Group of Industries Limited, you will be liable to pay the balance when the company makes a call for payment. If you have sold the partly-paid shares, the buyer will be liable to pay the remaining amount.
How to apply for Nakoda Group of Industries 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;
- 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.