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.