First and Final Call on TATASTEEL Partly-Paid Shares

Same here. I applied for ASBA facility of Punjab National Bank and money is blocked.

But I have still not received email. And I am not even sure if Punjab National bank forwarded my application to Tata steel or not. (because of bank strike on 15th and 16th March)

Had it been normal IPO type ASBA, I would not be worried. Because even if application is not submitted you dont lose your money.

But since here there is chance of existing shares forfeited - I am worried because it means I will directly lose 65k Rs. worth of shares. (forfeit by company)

I emailed Punjab National bank as well as Linkintime, noone has replied yet. That adds to my worry.

Anyone has clue how to find out?

Thank you.

If you are eligible the no worries. Also amount is blocked before 15th march and it will take 2-3 weeks to finalise the process by registrar as said by shubh.

Thank you for your reply.

But normally when I apply for IPO, I would get an email back on last date when IPO ends that my so and so application is received. (email comes from NSE or BSE)

But this time I havent received any email.

And local bank staff (local branch) they never have any clue. All they will say is ask me to write email and then I never get reply to email.

IPO is a different case where we get allotment of shares for the first time but in case of final call, u already had certain qty. of shares and after payment registrar will check wheter amount blocked by bank on request of client has that qty. of rights shares or not in the demat account and then after finalisation amount will get deducted.

Yes but have you received any official confirmation that your application is received?

For me all I have is that it is showing Lien as blocked in my bank account summary.

Thank you

NO.

I THINK WE WILL GET IT SOON BY REGISTRAR (LINKINTIME).

You may have gotten a confirmation mail from Linkintime from this email ID on the date you would have applied - [email protected].
Check your spam email also.

Anyone here who has paid by cheque payment? I’ve paid through cheque in axis bank but didnt received any mail can anyone help?

Finally, today money got deducted from bank.

So now I can relax.

Money got deducted today.

I have not made any payments on first and final call on Tata Steel PP. What will happen for the shares that I have held in my holdings.
What should I do?

Explained above:

What will happen if I don’t make call payment?

The partly paid shares may be forfeited if you fail to pay the call money. The company may also levy interest on the amount you owe. You can learn more in the announcement of the call by the company

Received the shares in my account. (with trading approval awaited)

Which means that I got the shares but I can still not trade in market. So hopefully 2-3 days more and it will be all done.

You’ll be able to trade once the shares are listed on the exchanges. This should happen in due course.

This is known as company exercising call option. Is there put option similarly as well? @ShubhS9

This is for those who did not pay the call money.

Soon they will get “Reminder-cum-Forfeiture Notice”. You will get one last chance to pay, otherwise money will be forfeited. Payment window is from April 19 to March 3, 2021

Source: Letter to BSE / NSE.

Further, in relation to the partly paid-up equity shares on which the first and final call money remains unpaid, the Committee approved sending of a Reminder-cum-Forfeiture Notice to the holders of such partly paid-up equity shares. The period for payment of the first and final call money pursuant to the Reminder-cum-ForfeitureNotice will be between April 19, 2021 through May 3, 2021.

Trading now approved for shares. So shares are now officially converted to fully paid and can be traded in market.

That would be called share buyback!!

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I have 04 shares previously, and I additionally purchased TATA steel PP (again 04 Shares), after the first and final call, I have made payment through online banking and received the mail from TATA steel confirming the payment. but till date I am not able to see any credit of TATA Steel (FP) shares in my account. Please guide…

Today my partly paid Tata steel shares are disappear from my trading account but showing in Dmat account, I paid call money, I got payment received email from linkintime but not Tata steel so I want to know whether my money reached to Tata steel and what is the status of my partly paid up shares?