Shriram Transport Finance Corporation will issue Right Entitlements (REs) to anyone who held its shares as on July 10, 2020. 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 Shriram Transport Finance Corporation or you can sell them directly.
You can check the announcement from the company here.
|Issue Price||₹ 570|
|Issue Period||July 16, 2020 to July 30, 2020|
|RE Trading Perioduly||July 16, 2020 to July 24, 2020|
How to apply for the Shriram Transport Finance rights issue?
Once you either receive the REs from the company or purchase it from the market, you will need to apply for the rights shares using Netbanking ASBA. You can check the process in this post . You can verify your entitlement on the website of the Registrar & Transfer Agent . The website will not be live 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 your bank.