Everything You Need to Know About the Escorts Limited Open Offer

Trading Announcements
21

Please revert back to the following queries on a urgent basis:-

1> what is the last date for all the documents (DIS & others) to be delivered to Zerodha HQ for successful processing ?

2>How will zerodha provide the acknowledgement after the transfer is complete ? (post/email)

3> what will be the type of transfer ? (BO-BO/BO-CM/CM-CM/CM-BO)

4> what will be the settlement no. ?

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22

No STT will be charged due to it being off-market.
So, the tax benefit will most probably be not applicable here. (consult CA/your tax consultant)
The transaction will have to be included in your FY 22-23 ITR filling as the payment date is 11-APR-22 (refer LOF) .

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23

On the Form of acceptance on page 72, it says “Public Shareholders holding shares in demat form are not required to submit the Form of Acceptance-cumAcknowledgment to the Registrar, unless required by their respective Selling Broker.” Is just transferring the shares via DIS to their escrow account enough?

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24

Spoke to a representative of K Fin today. He mentioned that just DIS submission and authorisation of DIS from the DP is sufficient and there is no need to send any document to them. Once the shares are transferred to the Escrow account from your account through the DIS autorisation, the process is completed.

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25

Hi. I have the DIS booklet. What enclosures do I need to attach to the DIS slip? The list given in the acceptance form is huge and includes a lot of self-declarations. Do i need all that?

What I dont understand is, where do I fill in the Details for KFintech Escrow account in the DIS form? There is no space for that data there.

Do I need to send a cancelled cheque as well to Zerodha?

Should the DIS form be sent to Zerodha, or KFintech?

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You only have to submit the DIS Slip.

You need to fill in these details in section 9 of the DIS.

No.

You’ll have to send DIS to Zerodha.

27

Thank you for such detailed response and a quick one at that.
Do I need to send a self-attested copy of PAN?

28

Any ideas when is Zerodha is planning to process the DIS slips?

29

This is not needed.

30

Yeah, similar query. When is the last date/time for Zerodha to receive the DIS slips, for it to be processed on 28th March?

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In other cases (which are not covered by Section 112A i.e. listed shares on which STT is not paid), the amount of long-term capital gain shall be taxed under Section 112. As per Section 112, the assessee has the following two options: –

  • Avail of the benefit of indexation; the capital gains so computed will be charged to tax at the normal rate of 20%
  • Do not avail of the benefit of indexation, the capital gain so computed is charged to tax at the rate of 10%

The selection of the option is to be done by computing the tax liability under both the options and the option with lower tax liability is to be selected.

Refer - https://taxadda.com/capital-gain-on-sale-of-equity-shares-ltcg-stcg/

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Can DM me the ticket number? Will have this checked.

33

@ShubhS9 - The question is generic, not specific to one DIS slip. Also, on my query if you can please answer - When is the last date/time for Zerodha to receive the DIS slips, for it to be processed on 28th March?

Thanks in Advance.

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Open Offer for shares - 37,491,556

Tendered as of 22 March 12:56pm -

  • 11,942,205 Equity Shares have been tendered in the Escrow Demat Account (with ICICI Bank Limited, bearing depository participant identification number: IN301348 and the client identification number: 20200624), as per the Escrow Demat Account statement received by the Manager from ICICI Bank Limited as of 12:56:11 pm IST on 22 March 2022; and
  • 1,516 Equity Shares have been tendered by the Public Shareholders holding Equity Shares in the physical form with the Registrar to the Offer, as per the email received by the Manager from the Registrar to the Offer as of 1:11 pm IST on 22 March 2022.

Refer - Escorts Update on Open Offer (bseindia.com)

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35

We’ll execute the transaction if the DIS is received by morning on the offer closure date (28th March). Ideally, best to courier DIS 2 working days before the offer closing date.

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36

Just for everyone’s reference:

1 - Once Zerodha receives the DIS slip, usually same or following day they will call you to confirm the transaction.
2 - Once confirmed by you, they will place the request with CDSL to transfer the shares to Escorts Escrow Account (same day).
3 - You have to approve the request by confirming OTP. Same process as Pledge of shares if anyone has done it.
4 - I received the SMS around 7:30 pm. As per their email cutoff time to approve is 8 pm, so be alert in processing this on your end.
5 - Once approved, after 10 minutes or so I received an SMS saying “Debit in a/c 00000 for 000(shares)-ESCORTS LIMITED”

1 Like
37

My experience was similar as @msangani - and my shares have been tendered as well.

@ShubhS9 - the problem I faced while DIS execution, as a feedback:

  • I received a call for DIS confirmation yesterday, but I was in a meeting and missed it, and I wasn’t even able to call back on the number to confirm it, and due to it, it was delayed by a day. Even customer care is off after 5 PM and email support takes usually 1-2 days to respond. A customer should be able to callback to the number they receive for time sensitive issues such as this in my opinion

  • An option to approve DIS by email should also be given in case I am in an out of coverage area or not available by call

  • Received SMS around 7:30 PM from CDSL to be confirmed by 8 PM, the time duration is very small. If someone is busy for that half hour, they need to send the DIS slip again, which is again a cumbersome process, given that it takes 2-3 days for the courier to reach again and not to forget the added costs

38

Hi Team,

My DIS slip has been delivered on 22nd for which I got an sms as well from Zerodha acknowledging the same.

However, I am yet to receive any call from Zerodha for the transaction confirmation. By when should I expect the call?

Also, once I receive the DIS acknowledgement from Zerodha, can it be sent post 28th to the registrar? Assuming that I’ll receive it by then if Zerodha sends it by post)

39

Can you DM me the ticket number? Will have this checked.

You will receive DIS acknowledgment copy via email. After this you can courier this along with Form of Acceptance-cum-Acknowledgment (Page no. 72 from the Letter of offer) to the RTA.

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Please see the ticket number below:
20220324105302

Sorry but I couldn’t find the DM option. Pls excuse me as I am new on the forum.