Update: Dynemic Products Limited will be making the first and final call payment for the partly-paid shares.
The company has fixed December 9, 2022, as the record date to determine the shareholders of partly-paid shares to whom the final call notice would be sent. You can check the announcement from the company here.
As a result, the partly-paid shares of Dynemic Products Limited (DYNPROPP) will be suspended from trading on exchanges from December 8, 2022, and you will not be able to see these holdings on Kite.
| Event Schedule | |
|---|---|
| Payment | ₹ 225 per share |
| Call Payment Period | December 19, 2022 to January 02, 2023 |
| Allotment & Listing | Within 2 to 3 weeks from the last date of payment |
How do I make the call payment
You can make call payment via following modes:
- Netbanking ASBA: Through the website of the SCSB’s.
- Physical ASBA: Submitting a physical application to the Designated Branch of SCSB.
You can check the list of SCSB (Self Certified Syndicate Banks) here.
What will happen if I don’t make the call payment?
If you fail to pay the call money the partly-paid shares may be forfeited (the current Dynemic Products Limited partly-paid shares you hold will be worthless and will not trade on exchanges as the company will allot new shares under different ISIN). The company may also levy interest on the amount you owe.
Dynemic Products Ltd. (DYNPRO) will issue Right Entitlements (RE’s) to anyone who holds its shares as of May 13, 2022 (record date). You will be eligible to receive Rights Entitlements (REs) if you have bought the shares on or before May 11, 2022. The ex-date is May 12, 2022.
These RE’s 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 Dynemic Products or you can sell them in the market. You can check the announcement from the company here.
| Issue Details | |
|---|---|
| Ex-Date | May 12 , 2022 |
| Record Date | May 13, 2022 |
| Ratio | 1:20 |
| Issue Price | ₹ 450 |
| RE Trading Symbol | DYNPRO-RE |
| Issue Period | May 25, 2022 to June 8, 2022 |
| RE Trading Period | May 25, 2022 to June 3, 2022 |
| Tentative Date of Allotment | June 16, 2022 |
| Tentative Date of Listing | June 24, 2022 |
This is a partly-paid issue, meaning you only have to make part payment at the time of application.
| Amount payable per equity share | Face Value | Premium | Total |
|---|---|---|---|
| On Application | 5 | 220 | 225 |
| One first and final call | 5 | 220 | 225 |
| Total | 10 | 440 | 450 |
If you continue holding partly-paid shares of Dynemic Products when the company makes a call for the balance payment, you will be liable to pay the balance sum. Alternatively, if you sell the partly-paid shares, the buyer will be liable to pay the sum.
How to apply for Dynemic Products 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 Netbanking ASBA or offline by submitting a Application Form to the Designated Branch of the SCSB (Self Certificate Syndicate Bank). You can check the process in this post .
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying for the rights issue.
You can check the list of SCSBs here
Note: The option to apply for rights shares through the RTAs portal is not available for this rights issue.
If you face any difficulties applying for the rights issue, you can get in touch with the RTA at [email protected] or at +91-22-62638200/22.
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.