UPL Restricted (UPL) has introduced a rights challenge of 9,38,25,955 fairness shares aggregating as much as Rs. 3,377.73 crores. The rights challenge opens for subscription on December 05, 2024, and closes on December 17, 2024.
Anybody who holds shares of UPL Restricted as of November 26, 2024 (file date) will probably be eligible for receiving Rights Entitlements (REs). These REs will probably be briefly traded on the inventory exchanges and can then be extinguished. You’ll be able to both use the REs to use for the rights shares of the corporate or you may promote them available in the market.
You’ll be able to examine the announcement from the corporate right here.
You may be eligible to obtain Rights Entitlements (REs) in case you’ve purchased the shares on or earlier than November 25, 2024. The ex-date is November 26, 2024.
Rights challenge particulars
Subject Interval
December 05, 2024 – December 17, 2024
RE Buying and selling Interval
December 05, 2024 – December 11, 2024
RE Image
UPL-RE
Subject Value
Rs. 360 per share (Rs. 90 on utility)
Ratio
1:8
EX-date
November 26, 2024
File Date
November 26, 2024
Tentative Date of Allotment for rights shares
December 24, 2024
Tentative Date of Credit score of rights shares
December 30, 2024
Tentative Date of Itemizing for rights shares
January 01, 2025
This can be a partly-paid challenge, that means you solely should make half cost on the time of utility.
Quantity payable per fairness share
Face Worth
Premium
Whole
On Utility
0.50
89.50
90.00
A number of extra calls as could also be determined by the corporate
1.50
268.50
270.00
Whole
2.00
358.00
360.00
Should you proceed holding partly-paid shares of UPL Restricted when the corporate requires the steadiness cost, you’ll be answerable for paying the steadiness quantity. When you’ve got offered the partly-paid shares, the client will probably be answerable for the cost.
Tips on how to apply for UPL Restricted Rights Subject?
When you both obtain the REs from the corporate or buy them from the market, you may apply for the rights shares utilizing the under strategies;
You’ll be able to examine the appliance course of right here.
You have to to enter your Demat account’s Beneficiary Proprietor ID which is a 16-digit quantity whereas making use of for the rights challenge.
The choice to use for rights shares via the RTAs portal shouldn’t be out there for this rights challenge.
What is going to occur to my bought holding of RE shares if I don’t apply for the rights challenge?Your REs will lapse and you’ll lose the premium paid to accumulate them. The RE will probably be within the type of short-term demat securities which can lapse if not renounced/exercised as soon as the buying and selling window is closed.
I don’t have the shares however purchased REs, am I nonetheless eligible to use for the rights challenge?In case you’ve gotten purchased REs however don’t have shares, you’re nonetheless eligible for the rights challenge. It’s possible you’ll apply for the rights shares both via the RTA’s portal or by way of web banking ASBA in case your financial institution permits it. Should you don’t take any motion, and let the REs stay in your Zerodha account, they may lapse after the difficulty.
You’ll be able to learn extra FAQs on Rights Subject and Rights Entitlements right here.
