Update: Rungta Irrigation Limited will be making the first call for the payment of partly-paid shares.
The company has fixed January 19, 2022, as the record date to determine the shareholders of partly-paid shares to whom the final call notice would be sent. You can check the announcement from the company here.
As a result, the partly-paid shares of Rungta Irrigation Limited (RUNGTAPP) will be suspended from trading on exchanges from January 18, 2022, and you will not be able to see these holdings on Kite.
| Event Schedule | |
|---|---|
| Payment | ₹ 4 per share |
| Call Payment Period | January 27, 2023 to February 09, 2023 |
| Allotment & Listing | Within 2 to 3 weeks from the last date of payment |
How do I make the call payment
You can make call payment via the following modes:
- Netbanking ASBA: Through the website of the SCSB’s.
- Physical ASBA: Submitting a physical application to the Designated Branch of SCSB. You can download the form here.
You can check the list of SCSB (Self Certified Syndicate Banks) here.
What will happen if I don’t make the call payment?
If you fail to pay the call money the partly-paid shares may be forfeited (the current Rungta Irrigation Limited partly-paid shares you hold will be worthless and will not trade on exchanges as the company will allot new shares under different ISIN). The company may also levy interest on the amount you owe.
Rungta Irrigation Limited (RUNGTAIR) will issue Right Entitlements (RE’s) to anyone who holds its shares as of November 11, 2022 (record date). These REs will be temporarily traded on the stock exchanges and will then be extinguished. You can either use the REs to apply for the rights shares of Rungta Irrigation Limited or you can sell them in the market. You can check the announcement from the company here.
You will be eligible to receive Rights Entitlements (REs) if you have bought the shares on or before November 10, 2022. The ex-date is November 11, 2022.
| Issue Details | |
|---|---|
| Ex-Date | November 11, 2022 |
| Record Date | November 11, 2022 |
| RE Symbol | RUNGTA-RE |
| Ratio | 25:1 |
| Issue Price | ₹ 11 |
| Issue Period | December 09, 2022 to December 15, 2022 |
| RE Trading Period | December 09, 2022 to December 12, 2022 |
| Tentative Date of Allotment | December 20, 2022 |
| Tentative Date of Listing | December 23, 2022 |
This is a partly-paid issue, meaning at the time of application you only have to make part payment.
| Amount payable per equity share | Face Value | Premium | Total |
|---|---|---|---|
| On Application | 3 | NIL | 3 |
| On first call | 4 | NIL | 4 |
| On second call | 3 | 1 | 4 |
| Total | 10 | 1 | 11 |
If you continue holding partly-paid shares of Rungta Irrigation Limited when the company makes a call for the balance payment, you will be liable to pay the balance sum. Alternatively, if you sell the partly-paid shares, the buyer will be liable to pay the sum.
How to apply for Rungta Irrigation Limited Rights Issue?
Once you either receive the REs from the company or purchase them from the market, you can apply for the rights shares using Netbanking ASBA or offline by submitting an Application Form to the nearest branch of SCSB (Self Certified Syndicate Bank). You can check the process in this post .
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying for the rights issue.
The option to apply for rights shares through the RTAs portal is not available for this rights issue.
If you face any difficulties applying for the rights issue, you can get in touch with the RTA at [email protected] or at +91 11 2996 1281-83
What will happen to my purchased holding of RE shares if I do not apply for the rights issue?
Your REs will lapse and you will lose the premium paid to acquire them. The RE will be in the form of temporary demat securities which will lapse if not renounced/exercised once the trading window is closed.
I don’t have the shares but bought REs, am I still eligible to apply for the rights issue?
In case you have bought REs but don’t have shares, you’re still eligible for the rights issue. You may apply for the rights shares either through the RTA’s portal or via net banking ASBA if your bank allows it. If you don’t take any action, and let the REs remain in your Zerodha account, they will lapse after the issue.
You can read more FAQ’s on Rights Issue and Rights Entitlements here.