Dear all,
I have made payment for 1 Rights Entitlements i am eligible from R-Wap.
After that on 20-May-2020 i have purchased 100 RIL-RE-BE from the market ,now they are in my demat account ,how to make application payment for this remaining 100 RIL-RE-BE.
Please assist can i make payment from R-Wap again ,is this process Correct?
We are awaiting an update from the RTA on this. If the RTA doesnât make a process available for additional applications, please sell the REs youâve purchased by May 29th (last day of RE trading).
Dear Mohit,
Thank you for the quick reply ,when i select option from R-Wap it is giving me option still to pay ,but i dont know the ,if it is correct or not.
Regards
sirish
Hi Team I am trying to apply rights issue via https://rights.kfintech.com My issues is as below- Some of my shares are pledged. When I tried to apply via kfintech website by selecting -I am a shareholder as on Record Date and undertake to hold RE till issue closing date ,  Result- It says no. of shared entitled for is Zero. When I select I am renouncee and hold rights entitlement in valid demat account and undertake to hold RE till issue closing date (i.e. June 3, 2020)â Result- It says Not a renounce.
Under both the options I am not able to see the entitled rights allotted to me. Please let me know under what option should I apply for rights issue @mohitmehra
@mohitmehra is process by applying through bank ASBA more convenient instead of Rta. Is it same as ipo if using Zerodha as Intermediatery.
In terms of convenience, both processes can arguably be seen equally. However, there are some important differences.
In the netbanking ASBA process, the funds are blocked in your bank account and you keep earning interest on the funds. On the other hand, if youâre using the RTAâs R-WAP facility, you lose out on the interest since the money is moving out of your account.
This list of banks supporting netbanking ASBA:
The RTA is accepting all banks for UPI payments and the following list of banks for netbanking payments:
assume i purchase re today which take two days to hit demat. Can i today itself make application in ASBA throgh my bank for rights?
In case you had the shares in your demat account as on May 14th, then you would have directly received the REs in your demat account. The number of rights shares should be correctly updated on the RTAâs portal as such.
In case you had sold your Reliance holdings on ex-date or had pledged the shares with your broker for margin, the REs would first be credited to your broker then be transferred to you. As such you will not see the number of rights share eligibility updated on the RTAâs portal for your demat account. However, you should be able to apply as a renouncee as if you have purchased the REs from the open market and applying.
If one of the two cases applies to you, but youâre getting errors, youâll need to check with the RTA.
You cannot use another personâs bank account to apply for the rights shares. If youâre using your own account and still getting this error, then it could be because your name is misspelled/different in the bank records. Best to raise this with the RTA.
The process to apply for incremental shares has not been made available by the RTA in writing on their website. However since investors werenât able to apply for incremental shares till last week, the change would have been affected to accommodate such applications. You may run this by the RTA and apply. In the meantime, weâre requesting the RTA for a written confirmation.
Technically, you can make the rights application through netbanking ASBA at any time. The RTA would check the REâs in your demat account after the end of the issue closure (or end of the RE trading period since REs will be locked in your demat account after that).
However, it would be best practice to apply after you have received the REs in your demat account (The RTA on its portal also takes a declaration that you have the REs and will not sell it off when youâre applying).
@mohitmehra - I had 150 reliance shares and was allocated 10 RE. I bought another 150 RE from secondary market on 21/5/2020 so now total of 160 RE are reflecting in my demat account. However when I am going to RTA website it is still showing my entitlement as only 10.
It is not allowing to select both shareholder and renouncee option. I contacted RTA on toll free phone no. and they have no idea on such basic query. Kindly help me urgently as I dont know what to do now?
I was initially entitled with 6 rights issue and I bought 10 additional rights issue from Kite.
Now on https://rights.kfintech.com/, I still see that I am entitled to 6 rights issue only. How can I actually pay for additional rights issue which I purchased from Kite?
Please provide a proper answer.
I By mistake Purchased the Ril-Re-BE today, When will I be able to sell them 500 Quantity I donât have enough money to bay 25 %. What do I do.
Hi Aayush, you wonât be able to sell the RIL-RE since its trading T2T and will be delivered to your demat account by T+2 EOD (i.e. EOD on 29th May which is the last day of RE trading). Youâll have to apply for the rights shares by paying 25% of 1257 or these REs will lapse worthless. There doesnât seem to be any other option.
Hi Shashwat, the RTA shows you the same eligibility of 6 shares since they donât reconcile the records of your secondary markets RE trades. You will still get the option to enter any number of shares you want to apply for. If you enter 16 here, the RTA will check if you have 16 REs and accordingly process the allotment.
The RTA is not providing an option to select both Shareholder and Renouncee categories while making such combined applications. However, we have verbal confirmation from the RTA that the investor may select the Shareholder category and proceed to apply. You may also reconfirm this with the RTA before you submit your application.
You may make one single application for 160 REs.
The RTA is not providing an option to select both Shareholder and Renouncee categories while making such combined applications. However, we have verbal confirmation from the RTA that the investor may select the Shareholder category and proceed to apply. It might be a good idea to write to the RTA and get confirmation before applying if the telephone support wasnât of help.
i didnât get that since last day of trading is 29 may and if someone bought on that day he will get delivery after two days (next week since its friday). Then what does âlocked inâ imply here. Yes ideally check should be made after closure of issue.
After the issue closes, one will not be able to make off-market transfers in REs. The REs purchased on May 29th will be delivered in your account by June 2nd and will be locked-in the same demat account till the RTA checks during finalization of the basis of allotment (i.e. tentatively on June 10th).
