Update: Tilak Ventures will be making the first and final call payment for the partly-paid shares. The company has fixed July 18, 2022, 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 Tilak Ventures (TILAKPP) will be suspended from trading on exchanges with effect from July 15, 2022, and you will not be able to see these holdings on Kite.
|Payment||₹ 2.50 per share|
|Call Payment Period||August 5, 2022 to August 19, 2022|
|Allotment & Listing||Within 2 to 3 weeks from the last date of payment|
How do I make the call payment
You can make call payment through the following modes:
- Netbanking ASBA: Through the website of the SCSBs.
- Physical ASBA: By submitting a physical application to the Designated Branch of SCSBs.
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 Tilak Ventures PP 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.
Tilak Ventures Ltd. (TILAK) will issue Rights Entitlements (REs) to anyone who holds its shares as of February 18, 2022 (record date). You will be eligible to receive Rights Entitlements (REs) if you have bought the shares on or before February 16, 2022. The ex-date is February 17, 2022.
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 Tilak Ventures Ltd. or you can sell them in the market. You can check the announcement from the company here.
|Ex-date||February 17, 2022|
|Record Date||February 18, 2022|
|Issue Price||₹ 5 per share|
|Issue Period||February 28, 2022 to March 15, 2022|
|RE Trading Period||February 28, 2022 to March 8, 2022|
|Tentative date of allotment||March 28, 2022|
|Tentative date of listing||April 5, 2022|
This is a partly-paid issue, meaning at the time of application you only have to make part payment.
|Amount payable per equity share||Face Value||Premium||Total|
|One or more additional calls as may be decided by the company||0.5||2||2.5|
If you continue holding partly-paid shares of Tilak Ventures when the company makes a call for the balance payment, you will be liable to pay the balance sum. Alternatively, if you sell the partly-paid shares, the buyer will be liable to pay the sum.
How to apply for the Tilak Ventures Rights Issue?
Once you either receive the REs from the company or purchase them from the market, you will need to 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 either on the RTA’s website or through your bank.
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.