When a fractional share occurs during split or bonus, what happens to it? Can we sell them through brokers in regular market?
Fractional shares can’t be sold in the Secondary market. Normally companies are aware of this and would round off fractional shares issued to investors. If at the fractional shares are retained, the company buys it back from the investors by paying cash. It appoints a trustee who will pay cash for the fraction shares.
RUCHI SOYA was re-listed in January 2020 and i received 1 share for 100 shares due to ibc capital reduction process . it is all right . no issue but since i am also entitled to fractional share and it is 10 months since listing , money is not credited .
For this you should get in touch with RTA (Registrar and Transfer Agent) of Ruchi Soya. You can find details about the same here.
I assume Ruchi soya has not yet appointed any trust to have all fractions transferred so that the trust will sell at nse/bse through a broker . none of my known people who hold shares have received the cash credit of fractional share . we have e mailed few times but shockingly no response.
Ruchi soya which last traded before capital reduction on 13 November 2019 has credited payment of fractional entitlement on 8 January 2021. shares after clubbing sold at 979 per share approximately .