Advik Capital Ltd. (ADVIKCA) will issue Rights Entitlements (REs) to anyone who holds its shares as of March 11, 2022 (record date). You will be eligible to receive Rights Entitlements (REs) if you have bought the shares on or before March 9, 2022. The ex-date is March 10, 2022.
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 Advik Capital Ltd. or you can sell them in the market. You can check the announcement from the company here.
Issue Details
Ex-date
March 10, 2022
Record Date
March 11, 2022
Ratio
19:5
Issue Price
â‚ą 2.85 per share
Issue Period
March 21, 2022 to April 7, 2022
RE Trading Period
March 21, 2022 to April 1, 2022
How to apply for the Advik Capital Rights Issue?
Once you either receive the REs from the company or purchase them 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 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 either on the RTA’s website or through your bank.
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 FAQ’s on Rights Issue and Rights Entitlements here.
The trading window for Advik Capital Ltd. REs you are holding closed on April 01, 2022. After the rights issue closes, the REs will be extinguished and removed from your holdings. In order to ensure that your REs don’t expire underutilized, you should apply for the rights shares by April 07, 2022.
The application can be made from the RTA’s portal or using net banking ASBA if your bank supports it. Please ignore this email if you have already applied for the rights shares.
No, you’ll have to apply for rights issue. If you fail to apply the RE’s will lapse and you’ll lose the entire premium paid to purchase the RE’s.
The ratio doesn’t matter when you’re applying for rights shares. As you’re holding 10 lakh REs, when you apply you’ll get guaranteed allotment of that many shares.
If you’re not able to apply through RTAs website and if the option to apply for rights issue isn’t available on Netbanking ASBA portal of your bank, you can submit plain paper application. You can download the form here, the process has been explained in the form itself.
Dear sir,
If I applied for Rights issue…Funds Will be blocked in my account (I mean…need to maintain sufficient balance 10.0 L * 2.85=28.5 Lakhs)…, kindly suggest.
Why because… already purchased RE shares of 10.0 Lakhs at 0.12 /- i.e invested 1.20 Lakhs. Hence I don’t have Funds of 28.5 lakhs
Yes, you will have to maintain sufficient funds in your bank account to apply for rights shares.
REs are temporary shares that only give you the right to apply for the rights issue. The amount paid to purchase these REs goes to the shareholder who sold the. When you apply for rights shares, this amount isn’t considered towards to application amount.
Sir, you mean to say that…what ever the purchased 10.0 Lakhs shares with average of 0.12 Paisa of 1.2 Lakhs invested amount will be completely loose, if I don’t applied for Rights issue or sufficient funds are not available in my bank account.
As of now, I don’t have the funds my hdfc Bank account to apply Rights issue.
So that I don’t have chance to apply Rights issue.
My complete amount will be lost.
