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

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

Hi,

If I buy more REs now, can i get equivalent rights issue shares post if I apply and those will get avg with my regular shares ?

Currently I am having 1000 RE, planning to take 1000 more REs if price fall more and i will have 2000 RE which in turn i can buy rights issue so… 2000 Qty will get avg with my existing 1000 regular qty post rights issue.

Please confirm. Also advise the above idea is good ?

Thanks
SiddRoy.

Yes, you will get shares equivalent to RE’s you will have while applying.

This is your call to make, if you think stock has potential to rise in future you should.

Thank you Shubhas…

Over the last few weeks and months you may have heard or read about an acronym that is experiencing a renaissance among investors: SPAC (Special Purpose Acquisition Company). Investopedia provides a simple explanation of how SPACs work:

@ShubhS9
I purchased 100 MMfin RE’s today at 75 and applied 100 thru asba. Will i be considered for allotment of rights? What if i am not alloted shares? How will i get my RE amount back?

I made the payment via https://rights.kfintech.com/mahindra/ using R-WAP
Amount got debited from the account but the final result says failed. I tried contacting Karvy and they said, it will get refunded after 3 days. I tried multiple times and the result is same. Neither Netbanking nor UPI works.

I have brought 120 shares on 21st July and 130 on 22nd July . Why I got only RE for 130 shares only ? For selling do we need to subscribe ?

Only shares bought on 21st July, were eligible for RE’s. Since July 22 was ex-date, shares bought on that date don’t qualify to receive RE’s.

I purchased 100 MMfin RE’s today at 75 and applied 100 thru asba. Will i be considered for allotment of rights? What if i am not alloted shares? How will i get my RE amount back?

If you bought 100 RE’s today, they will be credited to your Demat account on Thursday, and only after that you can apply for rights shares.

You applied for 100 rights shares via ASBA, you will be allotted 100 M&M Financial shares but to ensure your purchased RE’s don’t expire worthless you might have to cancel your application and apply again after these RE’s are credited to your Demat, or sell the RE’s you will receive on Thursday in market.

Thanks for your response. What if i am not alloted any share? Will my RE amount be wasted?

You made application through ASBA for 100 shares you will be allotted that many.

You said you also bought 100 RE’s today, which you can only use to apply when they reach your Demat account, to ensure they don’t expire worthless you will either have to cancel the application you have made and apply again or sell RE’s you purchased in market.

Hi,

Even im also getting the Same error message Client ID is invalid

and im entering BO ID as client ID i hope these is correct. Please let me know if something wrong i did in providing the CDSL client ID.

Regards,
Prakash

@ShubhS9, @mohitmehra

What I have understood from the conversation so far is that if I had purchased M&M Fin Services shares on 20th July & 21st July, and then sold them on ex-date of 22nd July, I would be entitled for rights entitlement (RE). Since I have sold on ex-date, those shares would be credited to my broker (Zerodha) first and then would be credited to my demat. Am I correct?

Now, it is already 5:53 pm. The REs have not been credited to my holding in Kite. Will that be credited tomorrow morning?

Thank you for your wonderful work anyway. I wish I would have visited this page earlier than wasting my time in other places.

I was entitle for 5 right issue shares and I had purchase 5 Qty of Right Re issue Share from Zerodha @ Rs. 80 dated 28th July. In Addition I had purchase 50 Qty of Right issue share from Kfintech.

Now my question is " Do I get my money back or remaining share will credit to my account and if so then how much?

Thanks in Advance

I have received some MnM fin Re shares in my ac.

  1. When will they merge with mnm shares. I have paid 50 per share price to rta.
  2. If I buy more MnM Fin RE shares will i need to pay additional 50 rs per share to RTA …?

On date of listing which is August 27.

You can only make one application, if you want to apply for additional shares you will have to cancel current application and make new one.

Can you clarify this @mohitmehra

Yes.

Will be credited today EOD, can’t give exact time but you should be able to see them in your holdings tomorrow.

Hello, I bought shares on 22july. Am I eligible? If yes , why there is no RE showing in my demate?