Bannari Amman Spinning Mills Ltd will issue Right Entitlements (RE’s) to anyone who holds its shares as of September 8, 2021 (record date). These RE’s will be temporarily traded on the stock exchanges and will then be extinguished. You can either use the RE’s to apply for the rights shares of Bannari Amman Spinning Mills Ltd. or you can sell them in the market. You can check the announcement from the company here.
Issue Details:
| Ex-Date | September 8, 2021 |
| Record Date | September 9, 2021 |
| Ratio | 21:20 |
| Issue Price | ₹ 30 |
| Issue Period | September 20, 2021 to October 4, 2021 |
| RE Trading Period | September 20, 2021 to September 28, 2021 |
How to apply for Bannari Amman Spinning Mills Ltd Rights Issue?
Once you either receive the RE’s from the company or purchase it from the market, you can apply for the rights shares using Netbanking ASBA. You can check the process in this post.
You can also apply for rights shares through the website of the Registrar and Transfer agent. The website might not be fully live until the issue opens for the subscription.
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying through Netbanking ASBA.