Disclosure:invested
What if I have 50 shares. I am still eligible for rights issue.
(11÷83)*No of shares you own record date rounded down to nearest integer would be your entitlement
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Thanks James for a quick reply. Appreciate it.
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the real money in this arbitrage trade would be made when you apply for and are allotted more shares than you are entitled to.
I expect many retail investors to stay away from the rights issue so chances of getting additional shares if applied for is very much a possibility.
disclosure: holding and applying for rights. no plans to arbitrage.
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Hello,
From when can one apply for the rights issue. Also, what is the procedure.
Thanks
details will be announced in due course. you will get a letter with details and a form which need to be filled in and submitted
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^
Is it possible (usually) to apply for rights online ?
As per the published document by PEL (page 270 onwards), I do not see any way to apply online. In fact without CAF (some kind of form I guess), it is not possible to apply.
Also, rights issues application for NRI is almost impossible to apply- as the CAF will be send to the Indian address, and if the sign does not match (which is fair) the application will be rejected.
I think companies make tall claim of using Artificial intelligence , Machine Learning (and many others buzz words), but when it comes to investor ease, they miss it completely. IPO can be applied online and so does many other things, I wonder why not rights issue.
Not sure if this is the case with PEL or other rights issues as well.
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It is the case with all rights issues, NRIs have to use the specific form sent to Indian address. Almost impossible to apply.
In the past I have been able to write to company secretary or registrar to get soft copy of CAF form that one can print and fill it. If you are outside India then additional step required will be to courier the form to someone in India to submit it. Have done it successfully a few times.
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There are some articles on the web which suggest that SEBI has now allowed to apply for rights issue through ASBA (bank account).
I just want to understand if we still need to fill the CAF form and submit even if we are applying through ASBA?
Thanks everyone for sharing insights around the process.
Any idea if CAF is post mailed at the address in PAN ?
Many years ago i remember applying for rights of CANFIN and I just had to print a form online and go to Bank of India (or similar nationalized bank) and submit it along with the DD.
Close to 1.4L shares acquired by promoter group…but not sure if this is related to piramal phythocare amalgamation as the mode is listed as Scheme of Amalgamation/Merger/Demerger/Arrangement
this is due to the amalgamation of phytocare
We can apply for rights issues through Canara Bank online. I’ve recently tried this for another small company’s rights successfully. Please login through Canara and check if PEL rights are listed.
BoB has provision in it but didn’t work last time.
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Team ,
Did you get the forms for applying to Rights Issue. Please let me know .
Thanks,
Vignesh
Not sure about receiving physical form, but you can send an email to pel.rights2@linkintime.co.in and provide your name/DPID, they can send you a link for soft copy.
You can also get a soft copy of the form here
https://linkintime.co.in/rightsissue/rightsissues-PlainPaper.aspx
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I got softcopy, how to pay money?
form has been received by many mumbai investors