9 December 2020 is the last date when Infibeam avenues will last trade as Combined entity . from 10 December it will trade as Truncated entity .
197 shares of TO BE LISTED suvidha infoservices for every 1500 Infibeam avenue & 1 share of DRC systems ltd for every 412 Infibeam avenue .
***** the above d-merger will result in lot of fractional shares .
197 for 1500 is alright but 1 for 412
This will result in lot of fractional share entitlement …those who sell EX EVENT on 10 or 11 December will face difficulty and confusion as broker will remove the shares from demat same evening . thus broker will get shares of these 2 new companies on client’s behalf which will list in about 45-60 days for transfer to client . further payment of fractional share which will take another 45-60 days or more for broker to get and reimburse to client .
thus the issue will remain pending for few months !
@ShubhS9
Yes, this can take some time as fractional shares will be consolidated and allotted to trustee nominated by the Board of Directors of Suvidha and DRC, who will then sell these shares in the market and pay Suvidha and DRC the net proceeds who will then distribute the sale proceeds to the Infibeam shareholders in proportion to their respective fractional entitlements.