Reliance Industries Limited conducted a rights issue in May - June 2020 and issued rights shares at Rs. 1257 per share on a partly-paid basis. Meaning the company only collected a part payment of Rs. 314.25 off the Rs. 1257 when the application for rights shares was made and the remaining payment of Rs. 942.75 was to be collected at later date in two installments.
Reliance made the first call for the partly-paid shares in May 2021 and collected further Rs. 314.25 per share. The company has now decided to make the second and final call for the remaining balance of Rs. 628.5 per share.
The company has fixed 10th November 2021 as the record date to ascertain the shareholders to whom the second and final call notice will be sent. As a result, w.e.f 9th November 2021 the partly-paid shares of Reliance will be suspended from trading on the exchanges and you will not be able to see these holdings on Kite. You can check the announcement from the company here.
|Payment||₹ 628.5 per share|
|Call Payment Period||15th November 2021 to 29th November 2021|
|Allotment & Listing||Within two weeks from last day of the payment|
How do I make call payment?
You can make call payment through the following modes:
- R-WAP: Through the website of the Registrar and Transfer agent.
- Netbanking ASBA: Through the website of the SCSB’s.
- Physical ASBA: By submitting a physical application to the Designated Branch of SCSB’s.
- Cheque / Demand Draft.
Here is the list of SCSB’s (Self Certified Syndicate Bank) through which you can make call payment.
What will happen if I don’t make call payment?
The partly paid shares may be forfeited (the current Reliance PP shares you hold will be worthless and will not trade on exchanges as company will allot fully paid shares under different ISIN) if you fail to pay the call money. The company may also levy interest on the amount you owe.