Sundaram Finance Holdings will issue Right Entitlements (RE’s) to anyone who holds its shares as of April 27, 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 shares of Sundaram Finance Holdings or you can sell them in the market. You can check the announcement from the company here.
|Ex-Date||April 26, 2021|
|Record Date||April 27, 2021|
|Issue Price||₹ 50|
|Issue Period||May 6, 2021 to June 2, 2021|
|RE Trading Period||May 6, 2021 to May 28, 2021|
|Tentative Date of Allotment||June 11, 2021|
|Tentative Date of Listing||June 15, 2021|
How to apply for Sundaram 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 the Netbanking ASBA service provided by your bank. You can check the process in this post.
You can also apply through the website of the Registrar & Transfer Agent. The website may not be fully live until the issue is open for subscription.
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying through Netbanking ASBA.