Since you’ve purchased the REs directly, you can apply for the rights issue either on the RTAs website or via ASBA on your net-banking.
If you don’t apply, you will lose the premium you’ve paid to buy the RIL REs since they will be removed from your demat account. Trading on the REs stopped on 29th May.
If you take no action, the REs will lapse unutilised and you will lose the premium you’ve paid to acquire the REs.
You’ll be able to view them on console.
Hi, I went through the entire thread & you have answered the doubts in very simple terms. I want to apply for rights using ICICI ASBA process, I’ve some confusion regarding the same. I see following screen when applying through ICICI,
Can you explain, what does each of these terms mean & where can I find them in my zerodha account?
DP ID: (I believe it is the 16 digit number shown under demat in console profile)
DP Name: not sure what to put here
DP Account: not sure about this either, what is the difference between DP ID & DP Account considering both are marked as mandatory.
Thank you so much for your help
2 clarification points:
In the Demat account in which I had 0 shares till record date should I just select the renouncee option and make payment?
I have another account in which i had rights till record date and i purchased few more rights through zerodha. But these purchased rights are not visible on KFintech site. How should i make payment for these?
You need to ensure that you’re using the 16-digit ID available here.
The DP Name is Zerodha Broking Limited.
Should you see an error ‘Invalid DP ID/DP account’ you can split the demat account number (16 digits) as
DP ID: 12081600 and DP account: the remaining 8 digits
Nope. Trading on the RIL-REs stopped on 29th May. If you don’t apply for the rights issue, you will lose the premium you’ve paid to buy the RIL REs since they will be removed from your demat account.
Thanks for the reply. Can you make me understand few things if you don’t mind.
I did not buy anything myself. I just hold RIL in my Kite. But someday back I could see RIL RE in my account which I believe are removed on 29th May.
Why did I receive them?
You are saying that, I should apply for the Rights Issue via. RTA Website. I do not wish to buy anything. I just want to deal with those RE which were allotted to me automatically (as said above).
The RTA is not reconciling the purchased rights. They will just perform a check during allotment to see if the REs are in your demat account. You can select shareholder and apply for the additional shares along with that.
You may have either sold them during the period they were trading or use them to apply for the rights issue till the time the application window closes.
If you do not wishto apply for the Rights issue, you can ignore the same and these REs which were credited as your eligibility to apply for the Reliance rights issue will be removed from your demat account on 3rd June.
hi @Poorna_Reddy, I have the 720 of RIL RE shares not the original RELIANCE shares. In this case what is the amount of money I have to pay. Please calculate and let me know.
The original Reliance CMP is now around 1460 but the RIL RE share price was 222 at the end of May 29th(last trading day).
The difference between (original Relicance - RIL RE) price is almost 1200 rupees.
I guess now I have pay (314.25 +difference amount) * 720) ) = approx 10L . Right?