SUZLON PARTLY PAID SHARE will last trade today on 01 March 2023. holder of PP shares will be in NO TRADING ZONE for about a month or so till call money is paid and fully paid shares are allotted and listing permission granted.
Update: Suzlon Energy Ltd. will be making the first and final call for the payment of partly-paid shares. The company has fixed March 2, 2023, 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 Suzlon Energy Ltd. (SUZLONPP) will be suspended from trading on exchanges from March 2, 2023, and you will not be able to see these holdings on Kite.
| Event Schedule | |
|---|---|
| Payment | ₹ 2.5 per share |
| Call Payment Period | March 9, 2023 - March 23, 2023 |
| Allotment & Listing | Within 2-3 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 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 Suzlon Energy Ltd. 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.
3 Likes
Those holding PP share must pay 2.50 per share during 09 to 23 March to make the same fully paid . payment can be via online ASBA or physical asba or through 3 in 1 account with broker if you have.
2 Likes
LAST TRADING DAY TODAY 01 MARCH 2023 for partly paid share of SUZLON . those who hold or buy today will be in NO TRADING ZONE for about a month till balance rs 2.50 is paid as per schedule and fully paid shares are allotted in swap of pp shares , and listed.
PAYMENT SCHEDULE : 09 to 23 March …
How to pay pp share, pl describe full process
Have explained the process above:
Can i buy more than the existing shares ? more over why i have not received notification in my Klite or as email ; i was surprised when it disappeared from portfolio . If for passive users like me missed would have lost all the amount invested so far in Suzlon PP??
1 Like
@ShubhS9 Hi,
Can you please explain the process for making final payment for the Suzlon RE’s.
We understand we need to pay from the website of SCB’s but how in each website.
Can you talk about the process post logging in?
Hi @Hemant_Khurana, the application process is same as applying for IPOs using Netbanking ASBA. You can check this post to know the process.
1 Like
I forgot the last date of payment of suzlon re, so what happened to my 8545 shares which I have bought from 1st partial payment?
The following are the consequences of non-payment of First and Final Call / partial
payment:
(a) Interest @ 8.00 % (Eight per cent only) p.a. will be payable for delay in payment of
First and Final Call beyond March 23, 2023 till the actual date of payment;
(b) The partly paid-up equity shares of the Company currently held by you, including
the amount already paid thereon are liable to be forfeited in accordance with the
Articles of Association of the Company and the Letter of Offer dated September 28,
2022 read with Addendum dated October 10, 2022
@ShubhS9 Hii Sir,
I forgot the last date of payment of Suzlon RE, So what happened my shares which I have bought from 1st partial payment? They are worthless or any other way to recover this ? Kindly guide me ASAP. because i have lots of quantity and i forgot apply in 2nd call.
1 Like
company will keep on sending reminders to pay perhaps with or without interest …you can pay till you get FINAL REMINDER CUM FORFEITURE NOTICE. PP share & Danger of not paying call money on time (1) your shares remain blocked for trading till you pay (2) at final reminder cum forfeiture notice options are limited , normally by a cheque at collection center (3) even now if you fail to pay your shares get forfeited
2 Likes
Thank you so much
Thank you @aniln for the details - this makes sense as long as they keep the process consistent with other companies did. I used RIL as an example for their rights issue (refer https://www.ril.com/DownloadFiles/FinalRemindercumForfeitureNotice/FRCFNI.pdf). Some questions I am trying to get answers on:
- How do we pay now that the ASBA window is closed? The RIL FINAL REMINDER CUM FORFEITURE NOTICE indicates there will be a separate link that will be open (which is not yet available for Suzlon?) or a DD may be submitted. Unfortunately Suzlon seems to be doing a poor job compared to how RIL ran the rights issue.
- Will the physical ASBA still be accepted?
- If physical ASBA will be accepted - how to calculate the interest % (is this something the bank accepting the ASBA request can advise on)
I did send an email to [email protected] as mentioned on the Suzlon ASBA form but have not received a reply so far. I also tried calling up Kfintech but am receing a boilerplate response with info I already know. I also tried reaching out to Zerodha support but honestly they may only help/guide out of good will as this is more a process that KFinTech manages. I am also going to reach out to get a better understanding of the process to the ICICI Demat desk as they manage my 3 in 1 account - however I doubt I will get support given I dont hold Suzlon in their demat account.
I would be very greatful if anyone has successfully navigated this problem and can provide more information.
cc. @Renish
Nowadays most companies do not charge interest on call money demand on partly paid share …you have to wait for reminder notice and during schedule , you have to handover the duly filled demand slip along with a cheque at collection center in your town .
i did similar in a recent rights issue where i failed to pay call money on time .
1 Like
Thank you again @aniln - I got a response from KfinTech along the same lines just a few minutes back.
Dear Sir/Madam
Unit : SUZLON ENERGY LTD - FINAL CALL MONEY
Sub : QUERIES REGARDING PAYMENT OF CALL MONEY
Folio or DP ID/Client ID:
Greetings from KFIN Technologies!!
We thank you for writing to us.As you must be aware, payment for the First and Final Call Money without interest was closed on March 23, 2023. Now the Company is in process of reconciliation, finalising and other formalities with respect to conversion of partly paid-up shares to fully paid-up shares and accordingly give credit of the fully paid shares to the respective account of the shareholders who have made payment within due date.
Post completion of all such formalities, the Company would send a communication to such shareholders who have not paid the First and Final Call within due date, with details of interest on delayed payment, mode of payment, etc.
As already stated in the First and Final Call Notice, following are the consequences of non-payment of the First and Final Call / Partial Payment:
1.Interest @ 8.00 % (Eight per cent only) p.a. will be payable for delay in payment of the First and Final Call beyond March 23, 2023 till the actual date of payment;
2.The partly paid-up equity shares of the Company currently held by you, including the amount already paid thereon are liable to be forfeited in accordance with the Articles of Association of the Company and the Letter of Offer dated September 28, 2022 read with Addendum dated October10, 2022;.
3.If the amount paid is less than the First and Final Call due, such amount will be adjusted @ ₹ 2.50 per partly paid-up equity share and the balance money which cannot be adjusted for a whole share will be refunded / unblocked and such Shareholder will be deemed “in arrears of payment of First and Final Call” to the extent of partly paid-up equity shares on which the First and Final Call remains unpaid and the consequences of failure to pay the First and Final Call (as stated in point no.1 and 2 above) would apply to him
This is for your kind information.
Thank you and assuming best services all time.
Best Regards,
KFin Technologies Limited
2 Likes
Hi, I applied for suzlon pp shares on ipo date and i was allotted 6885 shares, by paying 2.5 rs per share. i have sold all my 6885 shares on 21st of January. Please tell me what to do now? should i pay the remaining amount?