Hi Deepak, you won’t be able to apply now since the application window closed on June 3rd. The RTA would have already allocated the shares to someone else who might have applied additionally. You could have sold the REs only till May 29th (last day of trading). Now, the REs are lapsed and removed from holdings since the issue has closed. There isn’t a way to recover the lost money.
I hate to sound like this, but you were willing to put down 70K or so without having any idea about the process that you were entering? How is it possible that you searched specifically for the rights entitlement and bought those and not the actual RIL share? Surely, something must have looked out of place when you look at the price of an RIL share and the RE. On what basis did you buy the RE without knowing anything about it? And you are going to Google in the second half of June to figure out what it was that you bought in the first place about a month ago?
Mind-boggling.
How do you expect, my dear friend, for there to be any way to get your money back now?
Who should give you your money back? The person who sold the RE in the market? Why would he/she return the money when you are not giving the RE back? The person who was allotted additional Rights shares? Why should he/she add to the cost of the RIL rights share purchase price - he did not buy the additional RE - he/she merely asked the company to give any additional from those left over. The RTA? But the RTA did not sell it to you so why is the RTA expected to incur additional expenses for the issue of each rights share?
I purchased Reliance pp share and I got a message saying that I have to pay auction amount. I do not have idea what is that.
Please explain.
What if some of the pp shareholders don’t pay the balance money when the company calls up ?
Hi
What happens if someone holds the partly paid shares that they got after redeeming the RE, but fails to make the payment for the 2nd and 3rd call?
Whoever holds the partly paid shares, is liable to make the balance payment in installments.
Read here for more information - https://economictimes.indiatimes.com/markets/stocks/news/rils-partly-paid-up-shares-may-list-at-a-50-premium/articleshow/76378023.cms
Basically while redeeming the RE, you had paid just the part payment of Rs 314.25 , now the remaining balance of Rs 942.75 you will need to pay in 2 installments, since the issue price was of Rs 1257.
Hope this helps,
Cheers.