Vikas EcoTech Ltd. (VIKASECO) will issue Right Entitlements (RE’s) to anyone who holds its shares as of November 25, 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 Vikas EcoTech or you can sell them in the market. You can check the announcement from the company here.
|Ex-Date||November 24 , 2021|
|Record Date||November 25, 2021|
|Issue Price||₹ 1.60|
|RE Trading Symbol||VECO-RE1|
|Issue Period||December 7, 2021 to December 21, 2021|
|RE Trading Period||December 7, 2021 to December 15, 2021|
|Tentative Date of Allotment||December 30, 2021|
|Tentative Date of Listing||January 10, 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|
If you continue holding partly-paid shares of Vikas EcoTech 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.
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 like until issue opens for subscription.
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying through Netbanking ASBA.
Note: If you have bought the REs from the secondary market. You will not be able to apply for rights shares from the RTA’s portal. You will have to make an application either through Netbanking ASBA service provided by your bank, you can check out the process here. In case your bank isn’t offering the option for application, you will have to make a plain paper application. You can download the application form here. The process for submitting the form has been explained on the form itself.
If you face any difficulties in applying for the rights shares, you can reach out to the RTA, Bigshare Services at [email protected] or at +91 22 6263 8200.