I want apply for the rights issue of Piramal Enterprises (PEL) but I have no idea how to. Can someone explain the process please?
The subscription to the rights issue of Piramal opened on February 9th and closes on February 26th. The record date for determining the eligible shareholders was February 1st. The company is offering 1 share for every 23 shares held at a price of Rs 2378.
The process of applying for a rights issue is through ASBA (Applications Supported by Blocked Amount). If your bank supports it, you can apply online just like an IPO. If not then you would have received a courier of the Composite Application Form (CAF). You will have to fill the form and submit it at a Self Certified Syndicate Banks (SCSBs) branch.
The details to be filled are
- *Cheque/DD details (non ASBA)
- Select ASBA and fill in the bank details
- Your PAN number. If you have a joint account then fill in the PAN of the second holder.
- Fill your DP details. You can find your DP ID and the Beneficiary number under the profile section of Q.
Select NSDL - if your DP starts with IN. Select CDSL if the DP ID is completely numeric.
5) Your signature. Signatures if it is joint account.
Once done you can submit at any branch of a Self Certified Syndicate Banks (SCSBs). The list of banks can be found on the application from itself.
You can apply online “Rights Issue” via Internet Banking in same way you apply for IPO, provided you apply for PartA of the CAF.
There are two videos, in Tamil Language, which shows how to do. Easy to understand, even without knowing the language.
Hope you find this helpful!
Great to know there are PSBs offering this facility for rights issue. Yet to see this from private banks.
How to do the same for HDFC?
Please post the reference link or video.
I don’t think HDFC offers this facility.
There is an option of paying through UPI, but the payment is getting declined, is AS A the only option? Please help.
Then how to proceed, with HDFC bank account holders
If you are coming here for M&MFIN rights issue, you can access this site of registrar. It will verify your holding and rights, and also allow you to pay using netbanking and UPI.
Among bank’s IPO pages, I didn’t find HDFC showing option for this rights issue. But SBI did show this rights issue.
Please can you (or someone) tell the step by step process for applying M&MFIN RE using above link? I am new to trading please explain step by step.
Thanks in advance.
How to apply for the Mahindra Financial rights issue?
Once you either receive the REs from the company or purchase it 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 verify your entitlement on the website of the Registrar & Transfer Agent . The website will not be completely live until the issue opens.
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.
thanku u ji, One more doubt, I had purchased REs and when i choose the option “I am renouncee and hold rights entitlement in valid demat account and undertake to hold RE till issue closing date (i.e. August 11, 2020)” to apply its showing “Not a renouncee” Please select Share holder (i had One share on rec date and got 1 entitlement also). Please help in this what shall i have to do now? how to apply?
Thanku ji, One more doubt, I had purchased REs and when i choose the option “I am renouncee and hold rights entitlement in valid demat account and undertake to hold RE till issue closing date (i.e. August 11, 2020)” to apply its showing “Not a renouncee” Please select Share holder (i had One share on rec date and got 1 entitlement also). Please help in this what shall i have to do now? how to apply?
If you held share in record date and received RE, you can select “I am Shareholder” option.
i have one received RE and i have also purchased some, now how to apply ? shall i have to apply twice i means once for entitled RE and one more time for purchased REs?
When you proceed further, there will be “No. Of Shares Applied For” box, enter number of shares you want to apply for and you are done. You don’t have to make seperate applications.
brother, u mean now i have choose share holder option but what abut those i have purchased then? those which i have purchased also covered in this only if i enter how many numbers i want to purchase like that? please dont mind since i am new to trading asking these many questions
Yes, when you enter how many shares you want to apply for, the RE’s you have purchased will be covered in this.
thanks bro, i can also apply for higher no. of shares than my entitlement also no? i mean if i hold ex. 50 REs and can i apply for say 100 also right? if its not alloted, they will refund remaining amount right?
Yes, you can apply for more shares than RE’s you have, if you don’t receive allotment, your remaining amount will be refunded to your bank account.