Bit late, but will answer it:
Mirza International demerger was approved by the National Company Law Tribunal (NCLT) on February 27, 2023. Shareholders of Mirza International received one fully paid-up equity share of RedTape for every share they held in Mirza International. The demerger was completed on March 29, 2023.
According to the demerger scheme, shareholders of Mirza International had to keep their shares till March 28, 2023 to be eligible to receive RedTape shares. The record date for the demerger was March 28, 2023. This means that shareholders who held Mirza International shares on March 28, 2023 were eligible to receive RedTape shares, regardless of when they bought the shares.
Please share any news of when the shares of Redtape will be credited to our Demat A/c
Shares have already been credited to our demat accounts long back, Goes by the code - INE0LXT01019. The price per share will show post-listing which should happen in a month or so.
Not yet credited in ICICIDIRECT
You may have to check in the Demat holdingsā¦ isnāt reflecting in the trading portfolioā¦
Could someone please help to decipher the result. Too confusing due to demerger.
Yes. Looks very confusing. How can value redtape business.
You can get the result analysis here-
https://twitter.com/BritishMasti/status/1662746380929232896
Does anyone know the next step in Listing of āRed tapeā shares? Is it pending on companyās side or SEBI/ Exchange side?
In principle approval approval for listing from both the exchanges. Not sure about the SEBI part though.
I have bought Mirza International on 28th Mar at Rs 257 and shares were credited in my DEMAT on 31st Mar. It started trading ex-demerger on 29th Mar.My broker (ICICI DIRECT) says I will not get REDTAPE shares in my DEMAT as shares were credited in my demat on 31st. Is it correct action on the part of ICICI DIRECT. Can it refuse me REDTAPE shares when I have bought Mirza at Cum-demerger price ? Requested to help.
Can it refuse me REDTAPE shares when I have bought Mirza at Cum-demerger price ?
Not sure. You can consult with ICICI Direct Grievance Redressal. If you are still dissatisfied, you can take this up with SEBI SCORES. The whole process will take months. Please let us know about the outcome.
No. They canāt refuse, if you have purchased cum demerger. Please verify Exchange/ Co notification on ex-dt. Actual credit of shares does not matter. Your broker is legally accountable for this. If they donāt co-operate, take up with concerned exchange and SEBI grievance cell.
Thanks a lot. I have bought shares on 28th Mar and as per company notification ex- date was 29th Mar.
To my understanding broker is just the final interfaceā¦but they will let you know the reason. Company registrar should be the one handling the allocation. Please check with both and escalate accordingly.
It is surprising to see that Redtape listing is not done even after 3 months. Usually it takes 30-40 days. Company is yet to clarify reasons for delay. Any delay affects the reputation of promoters.
NSE- BSE clearance recd. SEBI pending.
Is there a way to track this? Itās going to be nearly 4 months soon and listing is still not in sight.
Why are they not listing ā¦REDTAPE ā¦anyone has any idea ?