Everything you need to know about The South Indian Bank Limited Rights Issue

Trading Announcements
46

Hi @Gaurav_Bhandari please go ahead and submit the application as the difference between the retail and individual categories is in the wording. In any case, one needs to apply in the individual category.

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47

thanks a lot @nithin_kumrr!!

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48

Hi,
I have applied for south India bank RE shares through ASBA from my HDFC Netbanking. The total purchase amount will be deducted from my hdfc bank or I need to add funds to my brokerage account?

Regards,

49

Funds will be debited from your bank account.

50

i did not make use of my 225 RE given free by south bank to me. What should i do now to make use of it or did it get waste ??

51

You can still apply for rights shares, the issue is open until 20th March. You can check the application process here.

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52

I have also applied through hdfc net banking, the
Amount is showing as on hold. I am getting reminder emails from ZERODHA and CDSL, is there anything else I need to do from my end now?

53

You don’t have to do anything more. The rights shares will be credited to your demat account by 9th April and the amount that is on hold will be debited from your bank account.

54

I have been allotted 1000 RE shares being existing share holder.

I have purchased additional 500 shares through Zerodha DEMAT at premium of 4 Rs. and paid Rs. 500X4 .
Till 14.03.24, total 1500 shares were visible in my demat account. I have applied 1500 shares through my internet banking ASBA link @1500X22 and this amount is hold in my account.
I am having following queries:

  1. My account was showing 1500 share on 14.03.2024…does it mean that I have got additional 500 shares?
  2. What if I don’t get allotment of additional 500 REs, will Rs. 500X4 be refunded to me and how?

Please reply. Thanks in advance.

55

I have SouthIndian bank share NSE.
I have also purchased Southindian RE share during trading sessions.
Now these shards are not visible in kite app. Now I am applying for these shares through bank. But bank is showing two options CDSL and NDSL. What option I need to choose as share which I have is NSE listed.
Kindly help

56

This is the total number of REs you hold (1000 you received as a shareholder and 500 bought from the market. Also, the REs have now been suspended from trading, so you will no longer see them in your Kite holdings.

The allotment is guaranteed to the extent of REs held. SInce you hold 1500 REs, you will get an allotment for 1500 shares.

57

REs have been suspended from trading, so these will not show in your holdings on Kite. However, you can still apply for rights issue until 20th March.

As the Zerodha demat account is held with CDSL, you will need to select CDSL. The ASBA process is the same as applying for IPO via Netbanking, you can check the process here.

58

Sir I have applied for247 RE shares as part of allocation 1:4 from south Indian bank on 11th Mar 2024 through ASBA . And later on I have purchased another 500 RE shares at Rs 4.6 on 12.3.24.

I am trying to apply for this but its not getting applied it shows you have already applied

Please suggest do i need to apply again for RE shares. What will happen to my 500 RE shares

59

apply from other bank if you have more than 1 bank account . i do not have practical experience but you may try .

60

I think you can cancel earlier bid and re-apply for complete quantity 747 within 20.03.2024.

61

Bhai earlier bid cancel nai ho rhi hai.under process aa rha hai

62

@ShubhS9 Can i apply through different bank account?

My acocunt is linked with SBI, but sbi is throwing PAN not linked error. And it will take 3-5 days to update.

What is the solution?

63

If the account is in your name, you can apply. It doesn’t have to be linked to your trading account.

If the account isn’t in your name, then the only option is to submit an offline application.

64

I have bought REs shares through KITE, as zerodha suspended my trading is the shares what will happened to the amount Which I bought REs shares, will I get the shares added to my South Indian bank shares or the money is wasted ?
As today is the last day, let me know what I should do please

65

Hi @Parasuram_Pothiraj

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.

Apply for the Rights issue by following the steps mentioned in the post above otherwise your REs will lapse