Gennex Laboratories Ltd. (GENNEX) will issue Right Entitlements (RE’s) to anyone who holds its shares as of July 22, 2022 (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 rights shares of Gennex Laboratories Ltd. or you can sell them in the market. You can check the announcement from the company here.
You will be eligible to receive Rights Entitlements (REs) if you have bought the shares on or before July 20, 2022. The ex-date is July 21, 2022.
|Ex-Date||July 21, 2022|
|Record Date||July 22, 2022|
|Issue Price||₹ 6|
|Issue Period||August 05, 2022 to August 19, 2022|
|RE Trading Period||August 05, 2022 to August 12, 2022|
|Tentative Date of Allotment||To Be Announced|
|Tentative Date of Listing||To Be Announced|
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|
|One or more additional calls as may be decided by the company||0.75||3.75||4.50|
If you continue holding partly-paid shares of Gennex Laboratories Ltd. when the company makes a call for the balance payment, you will be liable to pay the balance sum. If you have sold the partly-paid shares, the buyer will be liable to pay the sum.
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.
The option to apply for rights shares through the RTAs portal is not available for this 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.
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.