(You can check the mobile number and email ID updated with the depositories and exchanges here. If you find discrepancies, you can DM me your client ID.)
Hi I have received rights entitlement against my existing reliance holding which I had already applied. Few days back I purchased 21 rights entitlement through Zerodha and got it credited in Zerodha demat ac.when I go for applying
Second time for these rights purchased through market RTA site is not showing the rights purchased. How to apply for the right purchased subsequently after applying for original entitlement.
I don’t have RIL shared but I purchased RIL rights entitlement and it add after (T+2 days) in my demat. after I am applying through R-WAP route. While applying on 28-5-2020 but Alerts Show “Not a Renouncee - Select Shareholder On Record Date” .Why?
I am selecting ‘I am renouncee and hold rights entitlement in valid demat account’ and it automatically selects ‘I am holding the shares in Dematerialised Form’. Is this correct ?
I was entitled for some Reliance Rights & I have already paid for them on RTA website successfully, but when I try to pay for the REs that I have bought (I am a Renouncee now), I am getting following error on the RTA website,
Thank you very much for guiding, I have paid the amount for the additional RE’s that I have purchased through my Bank Account linked to the trading account. I have received a mail from Zerodha and in that there is a mention of ASBA.
Could please let me know how the balance payment should we keep this money in our account for the dates mentioned or should we have the money now so that it will be blocked.
You can make an incremental application but the RTA has you still marked in the shareholder category. You may go ahead and apply for the REs you’ve purchased by selecting “Shareholder” (that’s what the RTA has been suggesting). The RTA will check all your REs in your demat account when making the allotment.
Best to call the RTA at 1800 425 8998 / 1800 345 4001 for confirmations if you still get errors.
Best to contact the RTA at 1800 425 8998 / 1800 345 4001 for this error. They might direct you to just use the shareholder option. If you’re hesitant, you can use netbanking ASBA to apply if your bank supports it.
The REs will lapse worthless if you don’t exercise the REs in your account by applying for rights shares. These will be then removed from your demat holdings.
So On the record date I had 150 Shares of Reliance and was as such allotted 10 Rights Entitlement Units which i had then Subsequently sold. I then purchased 200 Rights Entitlement Units which were delivered in my Demat Account Yesterday. I got a message from CDSL for the same. When I went to the rights.fintech page and applied using the Shareholder Option (as detailed in posts above) and then when I got to the number of shares in the online application it was showing 10 Shares Only.
My questions are as follows:
Why is the number of shares (rights entitlements) not updated to 200 from the previous 10.
Should I apply by manually entering 200 shares apply and then pay (even though the number of shares entitled shows 10)
If I go via ASBA (my bank supports the same) should I apply for the 200 shares at cut off price.
If you’re already paid for the rights shares using the RTA’s portal, you can ignore the mail. The bank ASBA route is an alternative to the RTA payment. You only need to apply through one of these two channels.
Thanks for guiding everyone here. I am also having the same issue if I try selecting myself as “Renouncee” because I have purchased additional shares from market.
I see a common problem in the solutions discussed so far:
1.) If we select shareholder category and pay for additional RE shares, not sure how will they consider the first application which was made for original entitlement. Also, ideally under shareholder category, additional applied shares is meant to go through lottery(basis of allotment). In this case, if at all they reject the application, then they will refund back the amount paid from our side but we will lose the amount spent on purchasing RIL-RE.
2.) If we use netbanking ASBA, this is relatively safer, as they might/might not confirm the application and in this case original application for initial entitlement might get properly selected and we will atleast have our original rights:) . But, even in this case, if at all application does not gets selected, we are again going to lose the amount spent on purchasing RIL-RE.
Please share your thoughts.
P.S. I have tried contacting RTA guys multiple times, but they seem to be so dumbo to understand this basic issue faced by everyone.
The RTA is not reconciling the data with the depositories. The eligibility data is as per the record date.
Yes, the RTA has been asking investors to manually enter the quantity in such cases. The final check to verify you have 200 REs will be done by the RTA when they’re performing allotment.
The price is fixed at 314.25 for the first call. The cut-off price isn’t really relevant. You can simply apply at the fixed price.
The application you’ve made will be checked against the total of REs received and purchased even when you’ve applied in the shareholder category instead of renouncee (as one may argue should be rationally). So, your RE purchases will be utilised and amount spent won’t be lost. The RTA has verbally confirmed the process they’ll employ to us however its not mentioned on their website.
The RTA is responsible to correctly match applications with the REs available in the demat account. So, your application through either netbanking ASBA or the RTA’s portal should go through smoothly given there are no reconciliation errors at the RTA’s end. You may anyways approach the company (RIL) or the appointed RTA (Kfintech) if there is any error during allotment.
