I was not an existing shareholder, so I purchased 200 RIL-RE-BE shares through Zerodha.
Now when I went to kfintech website to pay the 25% payment for the rights entitlement. I went to R-WAP and then selected ‘I am renouncee and hold rights entitlement in valid demat account’ and it automatically selected ‘I am holding the shares in Dematerialised Form’.
After this I get the payment screen but it is not showing me the 200 shares that I am entitled to (see arrow). Am I supposed to just enter 200 in the “Total no. of shares applied for” section. If so, would they consider my RELIANCE RE-BE shares.
If you purchase the REs and apply for the rights shares with correct details, you are guaranteed to receive allotment. If due to some error, you don’t receive allotment you can approach the RTA.
However, the REs will lapse after the issue and there is no refund of purchase cost.
The RTA just shows you the eligibility as per the record date (May 14th). You can apply for 200 shares and the RTA will finally check during allotment if you have 200 REs in your demat account.
So, If I chose to make the payment using RWAP website under shareholder category, it says that this application will be tagged to original application which is fine enough.
But, on the next screen, shall I manually input the additional shares I have purchased and proceed for payment?
Just to clarify, my original entitlement was 7 shares for which payment is already done. Additional quantity purchased is 20. So shall I input 20 quantity and make the payment?
Also, just one thought about guys who will use Netbanking ASBA, will that not be considered as multiple application and can be subject to rejection?
HDFC bank ASBA facility is not allowing to enter DP ID (option is grey so cant edit), is this fine? Since I can enter beneficiary account no that is my DEMAT account number.
@kanujkumar after allotment they will trade separately as partially paid up shares…they will list on the exchange at approx 200 (price of RE)+ 314.25 (paid to Reliance) = 514 rupees and you can sell them
@Prakhar_Agrawal yes you can apply for as many shares as you want…you’re only guaranteed the number of shares as the number of REs you hold and the rest are a lottery like you said
Hi @mohitmehra/ all,
I am Zerodha member and have purchased 150 RE’s, now when I am trying to make the payment using RWAP, 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) ’ and I am able to proceed further to the payment page.
I have Citi Bank Account and when I try to use UPI option to make payment, I am getting the below error and payment is failing
Dear Investor,
Third Party validation failed.
Your payment for the rights issue cannot be processed as the Third Party Payment Validation has failed.
You need to use the same bank which is linked to your demat/trading account. If CITI is the bank which is linked to your trading account and if you are still getting error then try reaching to RTA.
Yes, you should enter 20 and proceed to make payment for these additional 20 rights shares.
The RTA will consider incremental applications made through R-WAP. But if you’re making one application through ASBA and one through R-WAP, this could make their reconciliation difficult and might involve manual checks from them. This could increase the likelihood of errors. Best idea would be to stick to any one of the two methods.
Thanks for the advice, I was able to fix this issue, The R-Wap compares the Names we have entered and also verifies the name with the Bank. Ensure the names matches with each other and with the Bank.
The mistake I was doing was adding a Space, which I corrected and it worked like a charm.
Hi.
I had 27 RIL shares on the record date so I was entitled to 1 RIL-RE rights issue. This is showing in my DMAT account.
But I don’t want to apply for the rights issue.
What’s should I do ??
Also what will happen to the existing 27 shares that I have been holding before the rights issue?.
Kindly help.
You can sell the REs in the secondary markets. If you’re trading with Zerodha, the RE would appear under your holdings page, please sell it before 3.30 today.
Can someone help me with this Invalid Client Id error I am getting, please? I am putting in my 16 digit demat account id displayed in my console profile.
