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

I don’t hold any share or any RE in my demat.
Can I still apply for the rights in kfintech?

No, you need RE’s in your Demat account to stand eligible for applying.

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I am getting this error “Details entered by you does not match with our records, please enter the correct DPID Client ID or Folio number” when the id that i entered is crosschecked and correct too. Please help!

@ShubhS9 then what will happen to the extra amount we paid? Will it get credited after allotment?

In case you don’t get allotment for extra shares, remaining amount will credited back to your bank account.

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.

My bank doesn’t support ASBA and the whatever the welcome letter said as our dp id, we put that only into the form. Still the same issue persists.

Hi Guys,

Need your help in below situation and Thanks for help and suggestion in advance.

I have 50 shares before the listing date i.e., 20th July and after rights issue I applied for through ICICI rightsIssue portal and paid for 50 shares that is 2500 blocked for the order. I purchased 100 more shares via M&MFIN RE in my Zerodha account on 1st Aug.

I saw previous post that suggested me to apply for RE for the new 100 shares i brought on 1st Aug else the shares i purchased will be vanished or amount will be credited back in my account.

Action : Do i need to apply for 100 more shares through ASBA or ICICI online again ? if i do so due to duplicate application on the same PAN both application might get reject. Do i need to cancel ICICI Rights issue order and apply for new fresh issue with 150 shares in total ?

Thanks once again for the help.

You will have to cancel the application you made earlier and make new application with 150 shares.

@ShubhS9, @mohitmehra

Guys, I think you need to do something. This “Details entered by you does not match with our records, please enter the correct DPID Client ID or Folio number” message is coming for me too. I had entered all detail carefully. In fact, I was allotted Reliance Rights Share with these details only. It seems those who had sold the pre-rights shares on ex-date are facing this issue. I had contacted kfintech in their customer care. They are saying it is an issue with DP. Can you pls check up? As tomorrow is the last date for payment. If RWAP does not work, then I have to fill up for offline application with the bank.

It is working if the option is chosen as “renouncee” and not as holder of share on record date.

Sir I have to make payment of approx 5 lakh but failing through RWAP what to do

And if take less amount it will be loss

How to proceed then

Alternatively, you can try applying through your Bank’s Net Banking ASBA portal.

@ShubhS9 Please help me out here I bought m&m fin 25 shares and then applied for RE thorough their portal for 100 shares and then I bought 100 more RE’S from market for 77 rs and it was showing me in my holdings but now it disappeared what to do now? Is my money lost? or will it be credited?

The trading window for RE’s closed on 7th August, so you won’t see them in your holdings anymore. They will still be in your Demat account until 11th August. If you have applied for rights shares, you will receive the allotment, nothing to worry about.

Do I have to apply for rights share again after buying from the market at 77? Or the procedure is just buying from the market and waiting for the allotment?

You had 25 RE’s and applied for 100 shares, after that you bought 100 more RE’s, which means you have 25 extra RE’s which you haven’t applied for. You applied through R-WAP, so you can make an incremental application for those extra 25 RE’s, it will get tagged to your original application and you will get allotment for 125 shares.

OK please reply last question. I bought 25 shares of M&M for rights issue and then in website I applied for 25 Right issue shares and then when asked how many additional shares do I want if available I wrote 175 and that was done. Then I bought additional 150 shares form zerodha. Do I need to do something more or am I done with the procedure? Please reply fast last date right now.