Suven Life Sciences Ltd. (SUVEN) has announced a rights issue of 7.26 crore equity shares aggregating up to Rs. 399.80 crore.
Suven Life Sciences Ltd. will issue Right Entitlements (RE’s) to anyone who holds its shares as of October 18, 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 Suven Life Sciences 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 October 14, 2022. The ex-date is October 17, 2022.
| Issue Details | |
|---|---|
| Ex-Date | October 17, 2022 |
| Record Date | October 18, 2022 |
| RE Symbol | SUVEN-RE |
| Ratio | 1:2 |
| Issue Price | ₹ 55 |
| Issue Period | October 31, 2022 to November 10, 2022 |
| RE Trading Period | October 31, 2022 to November 3, 2022 |
| Tentative Date of Allotment | November 18, 2022 |
| Tentative Date of Listing | November 24, 2022 |
How to apply for Suven Life Sciences 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 a 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.
Note: 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 40 6716 2222
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.