Texel Industries will issue Right Entitlements (RE’s) to anyone who holds its shares as of August 17, 2021 (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 Textel Industries Ltd. or you can sell them in the market. You can check the announcement from the company here.
Issue Details:
| Ex-Date | August 13, 2021 |
| Record Date | August 17, 2021 |
| Ratio | 55:92 |
| Issue Price | ₹ 40 |
| Issue Period | August 31, 2021 to September 29, 2021 |
| RE Trading Period | August 31, 2021 to September 24, 2021 |
| Schedule | Face Value | Premium | Total |
|---|---|---|---|
| On Application | 5 | 15 | 20 |
| First and Final Call | 5 | 15 | 20 |
| Total | 10 | 30 | 40 |
How to apply for Texel Industries Rights Issue?
Once you either receive the RE’s from the company or purchase it from the market, you can apply for the rights shares using Netbanking ASBA. You can check the process in this post.
You can also apply for rights shares through the website of the Registrar and Transfer agent. The website might not be fully live until the issue opens for the subscription.
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying through Netbanking ASBA.