Reliance Rights Issue & Dematerialized Rights Entitlement Trading

The Record date was May 14th. However, since the settlement cycle in India takes T+2 days, the last date to buy the shares cum rights was May 12th. On May 13th, the shares of RIL started trading ex-rights since you would get delivery of these shares after record date, i.e. May 15th.

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Third party validation can fail if your name is differently spelled or misspelled in your bank account.
You can apply via ASBA even though they are not taking an additional declaration from the investor unlike the RTA on R-WAP.

You could check if the UPI ID you’re making the payment from is mapped to the correct bank account. You may also try using a different UPI app. However, it would be best to call the RTA and check for payment related issues. You also have the alternative to apply via netbanking ASBA if your bank allows it.

I am not existing Shareholder of Reliance. But, I bought 2 RIL-RE during trading days at an Average prce of 200.
Now can I apply it through ASBA?
if it so then what to put in field of “Bid Price”
Please Guide.
Thank you.

@mohitmehra

You can apply for the 2 shares through ASBA. The bid price is fixed at Rs. 314.25 (i.e. 25% of 1257). The last date is June 3rd.

Did you apply for the shares?

yes applied

Thank you.

Did you receive any mail from RIL before applying?

@mohitmehra I bought 75 RIl-re shares through Zerodha. My holding entitlement is showing 0. When applying for 75 in fintech with first 25% 314… it is asking to pay full amount of 23k. What happened to the amount which I already paid 75x192 (avg.). Will I get refund ?

The amount you’ve paid to acquire the REs will not be adjusted or refunded. Consider this a fee you pay for being eligible to apply. Once you apply, you get the rights shares first on the basis of your eligibility and then any additional shares you’ve applied for on the basis of lottery.

This should have been mentioned everywhere, at least novices like me did not know this. :frowning:

Finally I did it.Bank account holder name and CDSL name should match to avoid this error.

Thankyou so much bro.

No I applied through r wap…they were able to pull my details based on dpid…Then they got all my details

Okay. :slight_smile: . Even I got details for my ASBA application by writing email to [email protected] with demat Details.
@vinay_b_m

When I’m trying to pay the money, it says unable to initiate the transaction. I am a renouncee and I have received the RE shares in my demat account on 27th May.

@mohitmehra When I try to apply as a renouncee, it shows that I have 0 any Right entitlements. Is this normal?

Yep, The RTA is only showing the eligibility as on record date. They do not have systems in place to reconcile the records of purchased REs in real time. You can apply for your purchased REs and the RTA will check whether you have the requisite number of REs when they are performing allotment.

I have 20 rights issue share bought @210. If I pay rs 314 for these 20 shares than they are alloted to me or not.
If not then where the rs 314 go