Tata Steel Rights Issue: What is partly paid shares?

Stocks
1

Hi,

Tata Steel is providing rights issue, Fully Paid Shares at 510/- and Partially Paid Shares at 615/-. I have a few queries,

  1. Can one avail both fully paid and partially paid?
  2. If partially paid rate is higher than fully paid, how is it beneficial?
  3. I closed my DP account after the record date and moved the shares to new DP (zerodha). To use the rights, do I need to renounce the claim in favor of my new account?

Thanks,
Gerin

2
  1. Yes , you can apply both or either.

2 . Partly paid are beneficial in two ways. Firstly, the issue price is lower than the current rate. Secondly ,you get ownership at a later stage of full share by paying only 25% now.

3 . If you have got the Rights forms with your old DP No, then please write your New DP Np. at the suitable column in the Form ( CAF )