Everything you need to know about the M&M Financial rights issue

The shares will be credited to your Demat on or about August 25th, and listing is scheduled on August 27th. Yes, you will be able to sell immediately after listing.

What if i sell RE’s share now? will they refund my money?

I bought those shares way before 21st July

If you have applied for rights shares, should not sell the RE’s. If you do you will not receive the allotment. In that case, Yes, they will refund your money.

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Hi @ShubhS9

I am getting the error , " “Details entered by you does not match with our records, please enter the correct DPID Client ID or Folio number” while applying for the Rights issue . Please guide

You need to ensure that you’re using the 16-digit ID available here .
The DP Name is Zerodha Broking Limited.
Should you see an error ‘Invalid DP ID/DP account’ you can split the demat account number (16 digits) as DP ID: 12081600 and DP account: the remaining 8 digits.

Alternatively, you can apply via your Bank’s Net Banking ASBA portal as well. The process is similar to process of applying for IPO, if you don’t know, you can this post to know the process.

How can I apply for M&M Financial rights issue 2nd time?

On 29 July, I have purchased 100 RE and applied/paid for 100 Rights Issue Shares using R-WAP online portal.

Later I purchased another 376 REs in my ZERODHA account (so now holding total 476 REs). How can I pay for the additional 376 Rights Issue against 376 REs? For some reason R-WAP is not allowing me to pay.

Do I have to visit a bank on Mon 10 Aug to pay using DD/Cheque or any other method to pay online?

Thanks in advance.
Ashish Jain

Multiple applications through same PAN card will be rejected.

You have applied through R-WAP, you will have to make incremental application for RE’s you have bought, this will get tagged to your original application.

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Thanks so much for your reply Shubh59.

How can I make an incremental application. Any link/document to help.

Thanks in advance,

The same way you made the first application.

Yeah, I thought so but now that R-WAP link is not allowing payment option.

Originally, I went to


and selected R-WAP option where I could mention my DPID and PAN CARD and straight went to payment option.

However, now, R-WAP link opens but on the last step when I select the checkbox “I am a shareholder as on Record Date and undertake to hold RE till issue closing date” it does not provide option for payment.

I have found payment option available on my KOTAK BANK ASBA option but I am wondering if that will be counted as 2nd option?

Maybe you should contact the registrar and get more information from them.

These are their contact numbers

18004258998 / 18003454001

That will make two seperate applications from same PAN, as I said above, multiple applications will be rejected.

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Dear Shubh59,

So, I just managed to make the payment using R-WAP portal. Good news is that it did mention that I already have an application and new application will be tagged under the original. So, I guess it will be an incremental application as opposed to NEW.

Thanks for help.

Your reply saved me. If I did not see your reply, I would have paid through KOTAK Bank resulting in 2nd application and rejection.

Thanks so much buddy!!

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I have 150 rights in my demat, 50 out of 150 credited to my because I was holding 50 shares on record date remaining I bought from secondary market. Now I wanna apply for 150 right shares but when I am trying to apply it through RWAP Process it’s allowing me only to the extent of 50 shares ( credited because of holding shares on record date) and applied the 50 right shares now my doubt is can I apply the remaining shares through NetBanking?

Multiple applications through same PAN aren’t allowed, your both applications will be rejected.

You have already applied through R-WAP for 50 shares, you can make additional application for 100 shares which will get tagged to your original application.

HI Sangi,

in R-WAP, by default the no. of REs shown is equal to the no. of holding shares on record date. However, next to that same column, it allows you to manually enter the number you want to apply for. So, in your case, enter 150 there and pay for 150 Rights.

Hope it helps.

I applied through ABSA and also email to kfin.

Received following responce

We inform you that on a rights basis to the Eligible Equity Shareholders of our Company in the ratio of 1 Rights Equity Share for every 1 Equity Shares held by the Eligible Equity Shareholders of our Company on the Record Date, which is on July 23, 2020 till stock exchanges trading hours. As per our records you are not holding the shares as on record date. Please check with your depository participant for more clarification.

One doesn’t necessarily have to be shareholder to apply for rights shares, if you have RE’s in your Demat account, you are eligible to get allotment for shares equal to RE’s you have.

True, but how come Kfin say that, and for how long should i wait to take action on it