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

I bought Mahindra finance on July 20 and sold it on 22, today RE are not reflected in my holdings in zerodha. When checked in kfin website, it says invalid client ID

Why this is not reflecting?

I sold my shares on 22.07.20(Ex date). But as of now rights were not allowed to me. Is it take some time to credited in my account or else I am not eligible haaaa

I have applied for 20 rta shares from this website today https://rights.kfintech.com/mahindra/ and 1000 rupees has been deducted from my bank account so I will those complete new 20 shares after 11 August right? @ShubhS9

thanks for response, is average price of a stock will be 151 + 50 / 2 or (151 + 50 ) / 2 ?

@ShubhS9 I sold on July 22, still RE is not reflecting on my holdings, in above post you mentioned today, does that mean today EOD?

Stock price has already factored in price of additional shares on ex-date.

Average Price of your holdings will be (151 + 50) / 2, after allocation of rights shares to you.

Will be credited to you today EOD.

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You are eligible, RE’s will be credited to you today EOD.

If it’s gets credited by EOD, am I eligible to sell it now…like btst

No, you will only be able to sell once RE’s are in your Demat account.

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Yes, you will be allotted 20 shares.

Hii shubh…Im going through my netbanking on ASBA but thereis no M&M REs open…Only 4 companies REs there… Please tell how to apply for REs

Alternatively you can try applying through registrar’s website.

@ShubhS9 i not got re which i sold on ex date , is there any issue

im going to this link…But they have said client id is wrong…Why…?

Will be transferred to you today EOD.

thanks a ton for prompt response @ShubhS9, could you please comment on my calculation:

total shares = 500 ( each price 151)
today I bought M&M-RE share = 5 ( each price 79)

so if i want to apply 5 rights share, i need to pay again 50/- per share?
so for me, average final share price of each share would come
(151+50)/2 + 79 = 179.5/- ?
or (151+50)/2 + (79-50) = 129.5 ?
or (151+50)/2 = 100.5 ? – sure it may not

SHubh please reply…im filling ri8 client id but they have said it wrong…?

You can follow this process to get your Client ID.

If you are still getting error, maybe try after some time.

Yes, after paying premium to buy RE’s from market you will have to pay Rs. 50 per share when you apply.

The premium you pay to buy RE’s goes to shareholder who is renouncing his rights, this doesn’t get counted towards price of M&M Financial.

You already have 500 shares bought at 151 (Total Value: 75,500)
You apply for 5 shares of M&M Fin. at Rs. 50 (Total Value: 250)

Your average price: (75,500 + 250) / 505 = 150.