Request advice on whether RE shares bought now at all rates approx 70+ will entail further payment of 50 ra through rwap. Also what will be last date for this payment
Yes, you will have to make payment of Rs. 50 per share when you apply for rights shares.
The money you pay to buy RE’s goes to shareholder who is renouncing his rights, not the company.
Issue is open until August 11.
If you want to trade you can trade, but make sure by the time RE trading window closes you have 1150 RE’s in your Demat to get confirmed allotment of 1150 shares you have applied for.
If you don’t sell the RE’s you will have to apply for rights shares, if you don’t apply, RE’s will expire worthless and you will lose all the money paid to purchase them.
Can NRIs apply for rights issue via ASBA online? (assuming the bank provides the facility)
Sir,
- If I apply rights issue for 568 qty then a separate application to be given or I have to cancel previous application of 1150 qty and then apply for total qty 1150+568=1718.
- What is the last date of application
Multiple applications aren’t allowed, you will have to cancel your first application and make another application with 1718 shares.
Issue is open until 11th August.
@ShubhS9 - I received the shares in my kite app, however it says there there may be a discrepancy with this stock. fix in console.
In console it ask to - To fix the discrepancy, you should add manual trades here with matching quantities.
Details needed :-
M&MFIN-RE-R — Add a trade
Purchase date
YYYY-MM-DD
Avg. price
Qty.
Type
PLease can you guide on this.
P.S i also tried to enter details on the kfin site it says “Invalid Client ID - Enter Correct Client ID”
This will be fixed automatically, you don’t have to do anything.
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
Thanks, Can i go ahead and purchase the shares from the share then each @50rs ?
Yes, RE’s are in your Demat, you can go ahead and apply for rights shares.
Here’s an excerpt from the Letter of Offer
“Application Forms will be accepted from non-resident Investors in any jurisdiction where the offer
or sale of the Rights Entitlements and Equity Shares permitted applicable securities laws”
Payment by non-residents must be made only through ASBA facility
Quoting from the FAQs of M&M Fin rights issue
‘Can non-resident Investors use R-WAP platform to subscribe to the Equity Sharesin the rights Issue?’
Non-resident Investors cannot use R-WAP platform to subscribe in the rights Issue
RE’s are settled Trade-To-Trade, buying and selling on same day or BTST isn’t possible, you can only sell after T+2 days when RE’s will be credited to your Demat account.
but how do i know? i mean i should have get some notification that you can not sell untill credited to account. Generally for other scripts get this notifications … but in this case didn;t get. so i have go ahead with buying. Now Please tell me how to exit today itself?
RE’s not credited yet in zerodha.also kfin website showing error…
“Details entered by you does not match with our records, please enter the correct DPID Client ID or Folio number”. how to fix it?
It is already mentioned in M&MFin’s RE scrip, the BE stands for Book Entry and stocks trading in BE category are settled Trade-To-Trade.
Not possible to exit today, you can only sell after T+2 days.
Hi,
I’m new to stocks and been trading since 2 months. I’ve received M&M Financial Rights in my trading account on 28th. On the same day I visited the portal https://rights.kfintech.com/mahindra to applied for the rights.
I’m having a couple of questions.
- Other than the confirmation mail on 28th July from Zerodha, that I’ve received the M&M FIN-RE in my holdings, I’ve not received any other mail. Since I’ve applied for rights via website I’m expecting a confirmation mail from M&M FIN, yet no communication received till date.
-
As you mentioned, those who applied for rights will be able to sell the rights at market price? Does the shares in the above image mean that I should apply and then only I will be able to sell (Anyways I’ve already applied). Or even without applying I can still sell them since there are in my holdings?
-
Like an IPO, REs are also a means of raising funds, are we supposed to buy the rights when eligible to attain profits?
I have 500 RE shares in my demat account. I am making the payment through UPI. Am i supposed to fill any application form and submit before making the payment?
Hi There,
I had received an email from M&M Finance advising I am eligible for RE. However, am I allowed to buy more shares than my eligibility or stick to my allocation? Also the RE part doesn’t make any sense to me can someone help me understand in lame terms if possible.
Thanks in advance.
RE’s have been credited.
You can try this
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