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

Trading Announcements
41

Hi @nithin_kumrr , @ShubhS9 ,

I’m applying via IDFCF bank ASBA and the only bid category that I’m getting is - ‘Rights Individual Category’ . There is no other option. Should I go ahead and apply?

42

@ShubhS9 @Meher_Smaran
If I have received South-RE 100 Qty in my Zerodha Demat & Also I have an account in ANGELONE I have received SOUTH-RE 50 Qty

My questions are mentioned below:

  1. If I submit the Right issue application one with Zerodha Demat details for 100 Qty and Also I have applied for 50 Qty through ANGELONE demat with two different banks. Whether the application be rejected due to Multiple Applications on the same PAN number?

  2. If I have applied the Right issue for the Entire 150 Qty through the Zerodha Demat account details itself, whether the RTA will capture the overall Qty from ANGELONE & ZERODHA will be considered and the entire 150 Qty will be allotted or Only the 100 Qty which is there on the Zerodha will be allotted?

3)I have 50 Qty in ANGEL and 100 Qty in Zerodha, For applying the right issue wether I need to transfer the Re to One single demat then for the overall 150 Qty I have to apply?

43

Hi @MSDGOES , you need to submit two applications based on the demat accounts and the REs held in each, as the RTA verifies the data according to the demat account during the allotment to confirm the number of REs held.

44

Hi @Gaurav_Bhandari , this is likely to be a wording change, but the application can still be submitted. However, I suggest verifying with the bank for confirmation. I’ll look into it and provide an update by tomorrow.

45

Thanks @nithin_kumrr. I’ll wait for an update tomorrow. Bank’s customer care is not aware of this :smiley:

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.

1 Like
47

thanks a lot @nithin_kumrr!!

1 Like
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.

1 Like
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.