Suspension of trading in shares of Mindtree on account of merger with L&T Infotech

[ShubhS9]

@Shreya98

I had 1 mindtree share ,yet I have not received any amount corresponding to this share in my account .By when I can receive the amount ?

The amount for fractional shares will be directly credited to your primary bank account. This can take up to 30 to 45 days from the time of the credit of shares.

[Krishnav]

@ShubhS9
How much amount will be credited in cash settlement if I had one share of mindtree. Ar what rate will it be settled.

[PKNageswaran]

Do we know the date of settlement yet?

[Deeps]

Any fractional entitlements will be cash settled by the company directly to the shareholder’s primary bank account after the shares are sold by the trustee appointed by the company after deducting expenses as applicable and this can take up to 30 to 45 days from the time of the credit of the resulting shares(LTI). Do refer here to know more.

[aniln]

All such fractions will be transferred to a trust which will club it and sell at nse/bse through a broker. net realization from broker will be distributed to erstwhile fraction holders. dater of sale can not be know in advance . it can be any day in around 45-60 days after record date.

[PrajwalDS]

I had 8 Mindtree shares.
So it’s 8 x 0.73 which is 5.84.
I have recieved the 5 LTIM shares.
At what rate will I receive the 0.84 fractional shares? It should be the same rate at which I initially received the LTIM shares right?

[ShubhS9]

@PrajwalDS

At what rate will I receive the 0.84 fractional shares? It should be the same rate at which I initially received the LTIM shares right?

This amount you receive for fractional shares will depend on the price at which the shares are sold by the trustee appointed by the company. This can take up to 30 - 45 days from the credit of shares.

As explained above:

@ShubhS9

When will I receive the amount for fractional entitlement?

If there is any fractional entitlement, the equivalent amount will be directly credited to your primary bank account after the trustee appointed by the company sells the shares.

As explained here .

All the fractional entitlements shall be consolidated and allotted to a trustee authorized by the Board of the Amalgamated Company who shall sell the shares at such time(s) and at such price(s) on the stock exchange, as such trustee deems fit, and shall distribute the net sale proceeds, subject to tax deductions and other expenses as applicable, to the members of the Amalgamating Company in proportion to their respective fractional entitlements.

[Pritam_Kumar1]

@ShubhS9

Any fractional entitlements will be cash-settled and the amount will be directly credited to your primary bank account.

Any timeline for this?
still not received the credit in bank account.

[ShubhS9]

@Pritam_Kumar1

Any timeline for this?
still not received the credit in bank account.

No, there is no timeline. This can take some time, around 30 to 45 days from date of credit of LTIM shares.

[PrajwalDS]

I was due to get 0.84 fractional shares amount.
When i got LTIM shares alloted, got it at the share price of Rs 6498.49
Today i have recieved fractional amount of Rs 3693.48. Shouldn’t the fractional amount i get be Rs 5458 ?( 6498.49 * 0.84 ) at same price at which I received the LTIM shares?

[ShubhS9]

The amount you receive will depend on the price at which the consolidated shares are sold in the market by the trustee of the company, along with this they will also deduct any applicable taxes.

From the company’s notice linked in the main post:

All the fractional entitlements shall be consolidated and allotted to a trustee authorized by the Board of the Amalgamated Company who shall sell the shares at such time(s) and at such price(s) on the stock exchange, as such trustee deems fit, and shall distribute the net sale proceeds, subject to tax deductions and other expenses as applicable, to the members of the Amalgamating Company in proportion to their respective fractional entitlements.