Seacoast Shipping Services Ltd. (SEACOAST) has announced an allotment of shares totaling 20,20,05,000 shares up to Rs 200 billion. 48.48 billion. Entitlement subscriptions begin on July 21, 2023 and end on July 31, 2023.
Anyone holding shares in Seacoast Shipping Services Ltd. as of July 13, 2023 (Record Date) is eligible to receive an Entitlement (RE). These REs will temporarily trade on the stock exchange and then disappear. You can use RE to apply for rights shares in the company or sell them on the market.
You can check notifications from companies here.
If you purchase shares before July 12, 2023, you will be eligible to receive an Entitlement (RE). The ex-rights date is July 13, 2023.
Rights issue details
Issue period | July 21, 2023 to July 31, 2023 |
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RE trading period | July 21, 2023 to July 27, 2023 |
RE symbol | Seacoast-RE |
issue price | Rs. 2.40 per share |
ratio | 3:5 |
EX-date | July 13, 2023 |
Record date | July 13, 2023 |
Scheduled date of allotment of shares with stock acquisition rights | August 7, 2023 |
Scheduled lending date of rights stock | August 9, 2023 |
Scheduled Listing Date with Stock Acquisition Rights | August 11, 2023 |
How do I apply to issue Seacoast Shipping Services Ltd title?
Once you have received RE from a company or purchased from the market, you can apply for rights shares in the following ways:
You can check the application flow here.
Demat account account must be entered Beneficiary ID This is the 16 digit number you use to apply for rights issuance.
The option to apply for rights sharing through the RTA portal is not available with this rights issuance.
What happens to my purchased RE shares if I do not apply for rights issuance?
The RE expires and you lose the premium you paid to acquire the RE. The RE will be in the form of a temporary demat security and will expire if not abandoned/exercised after the trading window has closed.
I don’t own shares, but I purchased RE, am I still eligible to apply for rights issuance?
If you have purchased RE but do not own shares, you are still eligible to issue rights. You can apply for rights shares through the RTA’s portal or, if your bank allows it, through the Net Banking ASBA. If you take no action and leave the RE in your Zerodha account, the RE will expire after it is issued.
You can read more FAQs about rights issues and entitlements. here.
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My suspicion is that I already have my RE quota (330 shares). If I want to buy more from the market (say 100 shares), can I add those shares as well (total of 430 shares) when I submit my application, or do I have to submit a separate application for the RE allocation and the market purchase?
Hi @Veera_Rajan
One application must be submitted for all REs and sufficient funds must be maintained in the bank for 430 shares.