Sandur Manganese & Iron Ore Ltd. (SANDUMA) will issue Right Entitlements (RE’s) to anyone who holds its shares as of July 27, 2022 (record date). These RE’s will be temporarily traded on the stock exchanges and will then be extinguished. You can either use the RE’s to apply for the rights shares of Sandur Manganese & Iron Ore 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 July 25, 2022. The ex-date is July 26, 2022.
July 26, 2022
July 27, 2022
August 08, 2022 to August 29, 2022
RE Trading Period
August 08, 2022 to August 23, 2022
Tentative Date of Allotment
September 7, 2022
Tentative Date of Listing
September 13, 2022
How to apply for Sandur Manganese & Iron Ore Rights Issue?
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 040-23818475/23818476/23868023
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.
during 8 to 29 August you must apply for rights shares using ASBA from your bank website or physical asba( paper work and visiting bank main branch in city) . PLEASE note that if you do not know the process seek help and even than not in position to apply KINDLY sell RE during 8 to 23 August at BSE . if you do not act successfully , you will lose big money .
CAF number isn’t supposed to be mandatory now since there are no physical rights composite application forms. If the bank hasn’t removed it from their portal, you can enter any dummy number (let’s say your PAN). Please reach out to your bank for making the required changes on their portal (Some banks have already grey-ed out this field).
ICICI Bank must not be providing the option to apply for this rights issue. If you have an account with another bank, you can apply through it. Else, you will have to apply offline by submitting an application form to the branch of SCSB. You can check the process above in the main post.
Thanks, I have seen it in FAQ too. Have applied now using 4 digits repeated twice. Will have to see when will I get this completed. The company could have simply issued bonus shares any way the price is 10 rupees. If someone misses it is a huge loss.
I am applying for the first time hence the confusion.
You can apply for any number of rights shares you wish to. However, the allotment will be guaranteed only to the extent of REs you hold in your Demat account. For the remaining, the allotment will be done on a lottery basis, if you don’t receive the allotment the funds will be refunded.