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

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

Don’t know why they are saying so.

If you have applied for rights shares and also have RE’s in your Demat account, you will get the allotment.

Hope so, Thanks for guidance.
Saddest part is even ZERODHA ticket person has stopped responding post 4th Aug…which is totally beyond expectation

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