Everything you need to know about Seacoast Shipping Services Ltd. rights issue

Seacoast Shipping Services Ltd. (SEACOAST) has announced a rights issue of 20,20,05,000 equity shares aggregating up to Rs. 48.48 crores. The rights issue opens for subscription on July 21, 2023 and closes on July 31, 2023.

Anyone who holds shares of Seacoast Shipping Services Ltd. as of July 13, 2023 (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 for receiving Rights Entitlements (REs) if you’ve bought the shares on or before July 12, 2023. The ex-date is July 13, 2023.

Rights issue details

Issue Period July 21, 2023 - August 2, 2023
RE Trading Period July 21, 2023 - July 27, 2023
Issue Price Rs. 2.40 per share
Ratio 3:5
EX-date July 13, 2023
Record Date July 13, 2023
Tentative Date of Allotment for rights shares August 07, 2023
Tentative Date of Credit of rights shares August 09, 2023
Tentative Date of Listing for rights shares August 11, 2023

How to apply for Seacoast Shipping Services 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;

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.


My doubt is I got RE allotment already (330 shares). if I purchase more from the market (let’s say 100 shares) can I add that shares (a total of 430 shares) too while submitting the application form or do I need to submit a separate application form for my RE allotment & Market purchase?

Hi @Veera_Rajan

You should submit a single application for all of your REs and maintain sufficient funds in your bank for 430 shares.

Can i sell the RE shares before the allotment. and will the shares i held before will be there no?

If you apply for the rights issue and then sell the REs, then you won’t get the allotment as allotment is done on the basis of REs held in the account.

If you have not applied, or don’t wish to apply for the right issue, you can sell the REs in the market. Your holdings in the company will remain as is since REs are traded separately.

Hello Nithin, thanks for the time to respond to my question, I have one more doubt now my RE - 330 shares are showing in my demat account @1rs do I need to purchase this or do I need to simply submit the application form with the bank for my entitled 330shares @ Rs.2.40

And also please explain to me what will happen if I purchase this RE share @ Rs.1 today from the market.

Please guide me and I’m thankful to you in advance

These are the rights entitlements that are credited to your demat account according to your Seacoast holdings. You can simply submit the applications based on the number of REs in your demat account.

If you buy additional REs, they will be credited to your demat account by Monday evening.