Praxis Home Retail will issue Right Entitlements (RE’s) to anyone who holds its shares as of September 8, 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 rights shares of Praxis Home Retail, or you can sell them in the market. You can check the announcement from the company here.
Issue Details:
Ex-Date
September 7, 2021
Record Date
September 8, 2021
Ratio
11:8
Issue Price
₹ 11.35
Issue Period
September 21, 2021 to October 5, 2021
RE Trading Period
September 21, 2021 to September 30, 2021
Tentative date of Allotment
October 12, 2021
Tentative date of listing
October 18, 2021
How to apply for the Praxis Home Retail 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 rights shares through the website of the Registrar and Transfer agent. The website might not be fully live until the issue opens for the subscription.
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying through Netbanking ASBA.
I have no any share of PRAXIS company in my Zerodha kite holding position. I have bought PRAXIS-RE-BE 2000 Share on 29 Septembar and 2000 share show in my holding position as T-1 day on 30 Septembar but 1 October my share not show in holding position. I don’t know now what can I do…pls help me
RE’s are temporarily traded securities. As the RE trading windo has now closed, the shares will not reflect in holdings in Kite. Though the shares will remain in your demat account until October 5, once the issue closes, the RE’s will be extinguished.
You will have to apply for rights shares of Praxis, if not, you will lose the amount paid to purchase the RE’s. You can check out the application process above.
As you are holding 2000 RE’s, you can apply for as many rights shares and receive guaranteed allotment.
The RTA only shows the eligibility as on record date. They do not have systems in place to reconcile the records of purchased REs in real-time. You can apply for your purchased REs and the RTA will check whether you have the requisite number of REs when they are performing allotment.
I have applied only 2000 share link intime web where was wrote No of share apply . Another box I am not filled where was wrote No of share entitlement.
This option will show entitlement only if you had received the REs, directly from the company. As you had bought the shares from secondary market, it won’t display anything.
As explained above:
The RTA only shows the eligibility as on record date. They do not have systems in place to reconcile the records of purchased REs in real-time. You can apply for your purchased REs and the RTA will check whether you have the requisite number of REs when they are performing allotment.
You should receive notification from the company RTA upon allotment. You will also receive email/SMS from CDSL once the shares are created to your demat account.
The scheduled allotment date was today, October 12. This is tentative date and allotment can happen at later date as well. Should happen in due course.