Libas Consumer Products Ltd. (LIBAS) will issue Right Entitlements (RE’s) to anyone who holds its shares as of September 16, 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 Libas Consumer Products 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 September 14, 2022. The ex-date is September 15, 2022.
| Issue Details | |
|---|---|
| Ex-Date | September 15, 2022 |
| Record Date | September 16, 2022 |
| RE Symbol | LIBAS-RE |
| Ratio | 1:2 |
| Issue Price | ₹ 21 |
| Issue Period | September 27, 2022 to October 7, 2022 |
| RE Trading Period | September 27, 2022 to October 3, 2022 |
| Tentative Date of Allotment | October 18, 2022 |
| Tentative Date of Listing | October 25, 2022 |
How to apply for Libas Consumer 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 nearest branch of SCSB (Self Certified 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.
If you face any difficulties applying for the rights issue, you can get in touch with the RTA at [email protected] or at 022 62638200
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.