Is there any resource for tracking these rights issue??
Hi,
I have my demat account with upstox and i want to apply for the rights issue of south indian bank. how can apply for the same since my netbanking doesnāt work. I tried many times but it never worked. So I went to linkintime where it says that I have to take the print out of the asba document and submit in the SCSB. Is there any other way too to apply through Upstox, so far I didnāt find anything related to rights issue in corporate actions in Upstox.
Today, on listing of South Indian Bank Rights Share I got really surprized when I didnāt find the shares in my demat account. So I contacted Upstox and they are saying that the shares are lying in my holdings and are not listed by exchange whereas today on 2nd April 2024 the rights issue has been listed. Now they are saying that shares are listed today but it shall reflect not earlier than tomorrow i.e. 3rd April. To what extent they are right?
Same issue with my Kotak securities account. They say that shares are in my demat account but I canāt see them as they are āunavailable for tradingā !
They say bank/registrar has to approve them for tradingā¦
Check your complete holdings in CDSL Myeasi. It should contain the unlisted shares.
I incidentally got into a special situation if someone could help me out. I bought Fusion Finance PP shares from the secondary market which is now nearly half of my PF. It had a money call option of Rs 65.5 per share and I missed the record date. The share is not being traded now and I assume that it would be converted to the fully paid share after I pay the money. I was having an impression that I as an investor also would have the right to sell those shares which is unfortunately not. Now the question is that is my apprehension correct and if so then what the remady is? Thanks in advance for your valuable suggestions.
The Board has approved making of the first and final call on the partly paid-up equity shares of ā¹65.50 per share (comprising ā¹5.00/- towards face value and ā¹60.50/- towards premium), and has fixed November 11, 2025, as the Record Date for the purpose of ascertaining the holders of such partly paid-up equity shares to whom the first and final call notice would be sent.
source: Rights Issue 2025 - Fusion Finance Limited
you will receive a notice from the company for payment of call money to convert into fully-paid shares.
I think that I was not able make my points clear. The above said scrip was already 50% of my PF. I am not left with the extra liquid funds to pay the call money; if I sell my other holdings and pay the call money the said scrip would become 80-85% of my PF. The problem arised because I didnāt read the offer document carefully and I was having an assumption that there would be exit options during the call money payment period also which is unfortunately not there as the trading of this scrip has stopped. If I donāt pay the call money my shares are liable to be cancelled as per the rules. I was not aware of the conditions of the call money; knowing this special situation earlier I would have exited the stocks.
As per my understanding the only solution:
you have to pay the call money and sell after the completion of rights issue, where you receive the Full shares and get back your capital even under loss ( loss may be 10%,20, or 2%), but not 50%. In this option, even thereās a possibility of not loosing any money if the demand is good from people.
If you donāt want the above, the other option is forgot the amount as the PP shares will automatically expire after Rights issue over ( fixed loss of 50%).
You have no other option. Sell all other stocks and pay the call money. Once you get the shares allotted, you can sell those and repurchase the other stocks. If you donāt do this, all the money invested in Fusion will become 0.