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Mahindra Financial Rights Offer (July 2020) Review

Published on Wednesday, July 22, 2020 by Dilip Davda

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Mahindra Financial Rights Offer (July 2020) Review
  • This is the second fast track rights issue offer of CY2020 amidst COVID-19 pandemic.
  • MMFSL is a finance service arm of a well diverse Mahindra group.
  • Rights issue is at a discount of around 67.5% on ex-right quote of Day One.
  • Online application mode is strongly recommended.
  • Shareholders should not miss this mini bonus like lucrative offer.

PREFACE

Amidst COVID-19 pandemic scare world over, we are set to see some changes in lifestyle as well as on security market process front. We have already seen a fast track mega rights offer from Reliance Industries that has set a net world record of generating funds in a shortest period of time. This issue has definitely leaded to new fast track issue process. Under the same process while we have seen entry of mega FPO from Yes Bank Ltd., we are witnessing yet another fast track rights issue from MMFSL.

ABOUT COMPANY

Mahindra & Mahindra Financial Services Ltd. (MMFSL) is one of the leading deposit taking non-banking finance companies with customers primarily in the rural and semi-urban markets of India. It is primarily engaged in providing financing for new and pre-owned auto and utility vehicles (including three wheelers), tractors, cars and commercial vehicles. MMFSL also provides housing finance; manage mutual funds, personal loans, financing to micro, small and medium enterprises, insurance broking and mutual fund distribution services. In addition, it provides wholesale inventory-financing to dealers and retail-financing to customers in the United States for purchase of Mahindra tractors and utility vehicles through Mahindra Finance USA LLC ('MF USA'), company's Associate, which has entered into a joint venture agreement with De Lage Landen Financial Services Inc., which is a member of the Rabobank group.

In August 2019, the company entered into a joint venture with Ideal Finance Limited to offer financing services in Sri Lanka. It is a part of the Mahindra group, which is one of the largest business conglomerates in India. On a consolidated basis MMFSL has established a pan-India presence, spanning 27 states and seven union territories through 1739 offices and 32682 employees, as of March 31, 2020. It primarily focuses on providing financing for purchases of auto and utility vehicles (including three wheelers), tractors, cars, commercial vehicles and construction equipment, and pre-owned vehicles which accounted for 27.7%, 16.4%, 19.2%, 15.3% and 18.1% of estimated total value of the assets financed by the company, respectively, for the Financial Year 2020. The company benefits from our close relationships with dealers and long-standing relationships with OEMs, which allows it to provide on-site financing at dealerships. It is also able to offer loan products to existing as well as new customers through direct marketing initiative.

Mahindra & Mahindra, MMFSL's promoter and the flagship company of the Mahindra group, had a market capitalization of Rs. 634.90 billion as of June 30, 2020. The Mahindra group operates in several businesses and has a strong presence in the automotive, farm-equipment, information technology, financial services, aerospace, real estate, hospitality and logistics businesses and after-market sales and services of pre-owned vehicles.

ISSUE DETAILS

To finance its plans for repayment/prepayment of certain borrowings (Rs. 1600 cr.), long term capital funding (Rs. 800 cr.), General corpus fund (Rs. 679.08 cr.), MMFSL is coming out with a rights issue of 617764960 equity share of Rs. 2 each at a fixed price of Rs. 50 per share to mobilize Rs. 3088.83 cr. This issue opens for subscription on 28.07.20 and will close on 11.08.20. MMFSL has offered rights shares in the ratio of 1 share for every 1 share held at a hefty discount, which is termed as a 'Mini Bonus' for the stakeholders. MMFSL is spending Rs. 9.8 cr. for this issue process.

After the issue, MMFSL's current paid up equity capital of Rs. 123.55 cr. will stand enhanced to Rs. 247.11 cr. At the exchange adjusted ex-right price of Rs. 138.90 per share on fully diluted post right issue equity, its market cap comes to Rs. 17167 cr. However, with the right issue discounted offer price, MMFSL is looking at a market cap of Rs. 6177.65 cr. Based on ex-right closing rate of Rs. 153.95 (22.07.20), market cap stands at Rs. 19021 cr.

This issue is jointly lead managed by Kotak Mahindra Capital Co. Ltd., Axis Capital Ltd., BNP Paribas, Citigroup Global Markets India Pvt. Ltd., HDFC Bank Ltd., HSBC Securities and Capital Markets (India) Pvt. Ltd., ICICI Securities Ltd., Nomura Financial Advisory and Securities (India) Pvt. Ltd. and SBI Capital Markets Ltd., while Kfin Technologies Pvt. Ltd. is acting as registrar to the issue. . Post allotment, shares will be listed on BSE and NSE. It is advisable to follow online application process for this lucrative offer.

FINANCIAL PERFORMANCE

On financial performance front, on a consolidated basis, MMFSL has reported total income/net profits of Rs. 10430.86 cr. / Rs. 1867.28 cr. (FY19), Rs. 11996.46 cr. / Rs. 1085.82 cr. (FY20). Lower bottom line is attributed for higher finance cost, depreciation provisioning and impairment of financial instruments for the concluded fiscal. For Q1 of FY21, it has earned net profit of Rs. 432.12 cr. on total income of Rs. 3068.68 cr. MMFSL's NAV stood at Rs. 200.97 as on 30.06.2020. As on same date, MMFSL's debt equity ratio was 5.6. Currently its total debt stands at Rs. 65634 cr.

CONSLUSION

Shares of MMFSL turned ex-right on 22.07.20 and opened at Rs. 136.95, marked high/low of Rs. 159.50/134.30 and finally closed on day one at Rs. 153.95. It last quoted at Rs. 227.70 on cum-right basis (21.07.20). It has seen last 52 weeks high/low of Rs. 246/76 (adjusted for post right status). Considering its ex-right closing price of Rs. 153.95, this issue is at a discount of 67.5%. Thus this mini bonus like lucrative offer is worth grabbing. (Subscribe).

 

DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor before making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Investors should bear in mind that any investment in stock markets is subject to unpredictable market-related risks. Above information is based on RHP and other documents available as of date coupled with market perception. The author has no plans to invest in this offer.

 (SEBI registered Research Analyst-Mumbai).

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103 Comments

103. Manju Singh  Nov 22, 2020 08:50 I Like It. | Report Abuse Reply
Credited bonus shareo of m&m finance 2020 suddenly disappeared from my account and do not show till date. How will I get the same
102. Sukhdev Singh Shergill  Oct 29, 2020 03:08 I Like It. | Report Abuse Reply
I applied for 150 entitled shares of MMFSL right issue, the amount of Rs.7500.00 was debited to my account and credited to IPO fund blocking for ASBA application, but till today (29/10/20) the shares are not credited to my de-mat account.
101. HARINATHA SUNKARA  Sep 1, 2020 12:27 I Like It. | Report Abuse Reply
Sir, I applied entitled 300 shares of m&mfin and amount also bebited Rs 15000/- from my account, but shares not credited in my demat account still today 1 sep 2020. Where to complent.
101.2. Vishnu  Sep 26, 2020 23:31 I Like It. | Report Abuse
Any update on this ?
101.3. AKASH  Sep 27, 2020 17:48 I Like It. | Report Abuse
Check demat reconciliation section of your demat account. It will show the difference which you can reconcile to add to your portfolio.
100. Vaibhav Sharma  Sep 23, 2020 09:34 I Like It. | Report Abuse Reply
My right issue is not credited yet, I was allotted 7 shares. Still not credited
99. gaurav  Sep 2, 2020 15:14 I Like It. | Report Abuse Reply
i brought Mahindra and mahindra Financial share before right issue. so after right issue i am buy 100 share of Mahindra and mahindra Financial RE but that share are not merge with my Mahindra and mahindra Financial share till date.
what can i do now sir?
98. AshishIPO  Aug 20, 2020 15:18 I Like It. | Report Abuse Reply
FROM THE OBSERVATION I FEEL SHAREHOLDER WHO HAS APPLIED EXTRA GOT 2 EXTRA SHARES FOR EVERY 50 SHARES THEY ARE ENTITLED
SO IF YOU HAD RIGHT TO APPLY FOR 50 AND APPLIED EXTRA THEN THEY GOT 52
100 GOT 104
200 GOT 208
.....


I had 50 shares, i apply for 900 shares but alloted 50 only.

also till today not credited to my dmat.

kindly give solution.

98.1. goutam  Aug 20, 2020 22:13 I Like It. | Report Abuse
This is my ever first apply for any RI through asba ...I applied 350 for 350 holding since long as money deducted, but not applied for extra single one .......parhaps 14 shares could have been allotted if applied 50 extra ...bad luck ...I didn't know ...ok noted for next time
98.2. Pankaj Jain  Aug 31, 2020 22:15 I Like It. | Report Abuse
Hello Ashish,

The right issue was held at 1:1 ratio format so you can get more shares up to the no. of share you were holding before the split. I.e - if I am having 100 shares then maximum I can apply for is 100 more shares @ Rs. 50
97. satthish  Aug 25, 2020 16:43 I Like It. | Report Abuse Reply
Hi Sir,
i was eligible for 25 share in M&M Financial services in Right Issue
before applying right issue via RWAP, i have bought 25 share of M&M RE @ 76 unknowingly which showed in my trading APP (thought like wise we need to buy Right issue).
then i applied via RWAP and 25 stock was allotted to me now. please advise on M&M RE which i bought for 25 @ 76 in my trading App?
96. N.D. PATEL  Aug 25, 2020 09:58 I Like It. | Report Abuse Reply
Abhy ye Mere Account Mahindra Fin. ke Stock CREDIT mil chuke hai.. 104 Share..

kyaa aaj (Date: 25/08/2020) Bech sakte hai...?

Experts Pls. Guide..
95. AMIT S  Aug 19, 2020 16:04 I Like It. | Report Abuse Reply
FROM THE OBSERVATION I FEEL SHAREHOLDER WHO HAS APPLIED EXTRA GOT 2 EXTRA SHARES FOR EVERY 50 SHARES THEY ARE ENTITLED
SO IF YOU HAD RIGHT TO APPLY FOR 50 AND APPLIED EXTRA THEN THEY GOT 52
100 GOT 104
200 GOT 208
.....
95.1. AshishIPO  Aug 20, 2020 15:17 I Like It. 1 | Report Abuse
I had 50 shares, i apply for 900 shares but alloted 50 only.

also till today not credited to my dmat.

kindly give solution.
94. Satish  Aug 19, 2020 17:26 I Like It. | Report Abuse Reply
Annexure
1. No. of Equity Shares (including Additional Equity Shares) Applied for      2. Total Amount Paid/ Blocked on Application (₹)      3. No. of Equity Shares Allotted at the Issue Price of ₹ 50 per Equity Share      4. Total Amount Adjusted Against the Equity Shares Allotted (₹)      5. Amount refundable/
unblocked if any (₹) (5 = 2-4)      6. Allotment Advice Cum Refund Intimation No.      7. No. Of Equity Shares Kept In Abeyance In Electronic Mode      8. RTGS/NEFT/ NACH/ Direct Credit/Unblocking Date, As Applicable
45      2250.00      45      2250.00      -NIL-      5175      -NIL-      ----
93. Dilip k Parekh  Aug 19, 2020 16:43 I Like It. | Report Abuse Reply
Mahindra Financial Rights shares will list on BSE,NSE differently or as jointly with Mahindra Finance company listed ?
92. echaos  Aug 13, 2020 18:51 I Like It. | Report Abuse Reply
Hi Experrts

i have a doubt on over subscription , this RI is over subscribed by 1.3 times , so does that mean i ll get only 500/1.3 shares , as i only have 500 RE shares in my demat by 11th.

Also technically how can rights issues be oversubscribed , as its only for entitled people so it can be 1 time or less than than.
92.4. NforNandkishor  Aug 18, 2020 19:35 I Like It. | Report Abuse
new shares will be traded with same name and same isin. There will be nothing like RE shares
92.5. Thiagarajan Ramasamy  Aug 19, 2020 14:26 I Like It. | Report Abuse
In any Rights Issue Original Shareholders can apply for additional shares after fully applying for their entitlement. Additional allotment will be subject to availability . However those who bought RE in Market can not apply for additional shares as far as I know. May be rules changed now.
91. Darshil  Aug 19, 2020 10:39 I Like It. | Report Abuse Reply
Can someone help - where to check the allotment. Haven't received email/message for the same.
91.1. Thiagarajan Ramasamy  Aug 19, 2020 14:19 I Like It. | Report Abuse
You will get to know from your Bank Account Debit message.
90. NforNandkishor  Aug 19, 2020 00:30 I Like It. | Report Abuse Reply
Two allotment data I have received

61 was allotted for RE 60, Applied 100 shares
29 was allotted for RE 28, Applied 100 shares

Please share your allotment details in similar fashion to increase our knowledge
90.1. BhagKris  Aug 19, 2020 02:20 I Like It. | Report Abuse
52 were allotted for RE 50, Applied 100 shares
90.2. R Thiagarajan  Aug 19, 2020 14:17 I Like It. | Report Abuse
Applied for 100 , 200 and 300 Shares in 3 Applications against RE 25 each. Allotted 26 X 3.
89. AJ  Aug 19, 2020 14:08 I Like It. | Report Abuse Reply
How to check allotment status. I got mail for debit of M&MFin RE from my demat but not related to any allotment of shares.
88. echaos  Aug 19, 2020 13:24 I Like It. | Report Abuse Reply
I have received the allotment for 500 shares , but its present as M&MFIN RE in my demat not as old M&MFIN share.
87. Jeevan  Aug 19, 2020 00:45 I Like It. | Report Abuse Reply
Hi, didn't receive any mail/message regarding allotment. Can you explain where to check allotment
86. Debmalya  Aug 18, 2020 22:22 I Like It. | Report Abuse Reply
I applied three times my holding with 2 demats. But both my application didn't get selected. Any thought?
86.1. NforNandkishor  Aug 19, 2020 00:35 I Like It. | Report Abuse
Multiple application against same demat number may be a reason for rejection. You may ask RTA karvy( einward.ris@kfintech.com ) regarding exact rejection reason of your application.
85. Ajay  Aug 18, 2020 14:12 I Like It. | Report Abuse Reply
I am holding 100 shares in my ICICIDIrect Account till last day, I had applied for 200 shares in rights issue through ICICIDirect & 100 shares through http://rights.kfintech.com/mahindra. Today Received only 4 shares through ICICIDirect in account. yet to receive any communiction from Kfintech. Can any one please support in this to understnad the proces & will i get 100 shares through Kfintech or not ?
85.1. Romesh  Aug 18, 2020 14:25 I Like It. | Report Abuse
Against entitlement of 100shares,you have applied 200shares.Then you will get 104shares. In my view,you will be receiving 100shares note. That means against apply of 100 additional shares,you have received 4 shares.
84. venkat  Aug 17, 2020 15:53 I Like It. | Report Abuse Reply
i have 100 shares in previously and i have been purchased 100 shares online but not credited in my account. what is the problem. if it is not allotted, amount to be returned na.
83. Vijiv  Aug 15, 2020 14:27 I Like It. | Report Abuse Reply
Hello
I hold 200 shares and had applied for 1000 shares, are there any chance of getting allotment more than 200 shares? Please advise as I am totally new to stock market.
82. vikas  Aug 14, 2020 09:56 I Like It. | Report Abuse Reply
when the shares will be credited to demat a/c
81. goutam  Aug 13, 2020 19:17 I Like It. | Report Abuse Reply
@NforNandkishor sir .....Thank you for clarifying all the doubts....Namaste /\
81.1. NforNandkishor  Aug 13, 2020 20:39 I Like It. | Report Abuse
Thanks Goutam ☺️
80. kaushal  Aug 13, 2020 12:57 I Like It. | Report Abuse Reply
any one can give data that m&m finance ltd right issue subscription figures ?
80.1. NforNandkishor  Aug 13, 2020 20:38 I Like It. | Report Abuse
1.314 times
79. pawan agarwal  Aug 12, 2020 17:14 I Like It. | Report Abuse Reply
Sir, may I got allotment of Mahindra finance right offer share if I don't have any share previously. I just only applied for 300 shares on last day of right issue.
79.1. NforNandkishor  Aug 12, 2020 22:39 I Like It. | Report Abuse
No you will not get single share allotment if you don't have any RE share as on 11.08.2020
78. Jeevan  Aug 8, 2020 13:12 I Like It. | Report Abuse Reply
I have 85 shares before record date so I am eligible to apply for 85 rights. I applied on 28july for 100 rights and paid 5000Rs. After that I purchased 7 RE from market on 30 july. How should I apply this or I already paid for 100 rights so no need to pay for this 7 and I will get 92 right shares?
78.1. NforNandkishor  Aug 10, 2020 20:15 I Like It. 1 | Report Abuse
No need to worry Jeevan sir. Since you have applied for 100 shares and you are entitled for 92 shares, you will be allotted 92 shares of m&mfinance right issue. The number of RE shares in your demat account as on 11.08.2020 will be considered for deciding allotment. So, you do not need to apply additionally.
78.2. Jeevan  Aug 12, 2020 13:11 I Like It. | Report Abuse
Thanks Sir, I got very different answers from Kfintech. They said I can apply to purchased RE before 7Aug in other ans they said apply it through renouncee so got confused..

Thanks for your reply.????
77. goutam  Aug 12, 2020 10:29 I Like It. | Report Abuse Reply
Sir when will it credit into demat from RE...As applied for all which Re allowed me...Thanks
77.1. NforNandkishor  Aug 12, 2020 11:42 I Like It. 1 | Report Abuse
Allotment and fund debit from account will happen on 21.08.2020, share will be credited to Demat account within 2 working days after that. The right issue allotment trading will be allowed on or before 26.08.2020
76. NforNandkishor  Aug 11, 2020 12:48 I Like It. | Report Abuse Reply
@chittorgarh admin
Message are displaying after half an hour of posting it. There is much time delay in displaying the messages and replies
76.3. goutam  Aug 12, 2020 10:35 I Like It. | Report Abuse
Sir as u said (77.2) if I got extra means @50/-then how credit it into my demat for full share ...Plz clarify
76.4. NforNandkishor  Aug 12, 2020 11:35 I Like It. | Report Abuse
@goutam, if you get some extra share than your entitlement, you will get it @50 Rs and those share will be as good as the Mahindra finance share trading in in Stock Exchange now. Basically you will get value of 133 at a price of 50 for every extra share allotted to you.
75. KAUSHAL BODANI  Aug 11, 2020 10:48 I Like It. | Report Abuse Reply
where can we get to see how much subscribe this right issue ?
75.2. mukesg  Aug 11, 2020 18:20 I Like It. | Report Abuse
      No of shares      
Total       61,77,64,960       100%
            
            
NSE       14,48,86,900        23.45
BSE       66,64,85,794        107.89
            
Total SUB       81,13,72,694        131.34
75.3. NforNandkishor  Aug 11, 2020 22:40 I Like It. | Report Abuse
Mahindra finance right issue subscriptions status ????????????????????
Bse - - 66,68,97,287 bids
Nse - - 14,48,86,900 bids
---------------------------------------
Total bids - - 811,784,187 shares
Issue size - - 61,77,64,960 shares
---------------------------------------
1.314 times subscription
Status last updated 7.00pm on 11.08.2020 and it is the final subscription figure
74. Bhumika  Aug 11, 2020 12:00 I Like It. | Report Abuse Reply
Hi sir
I have 80 shares of m& m finance and i got 89 shares of m& m finance -Re....now if i have not sold n& m fin -re shares & also not fill rights offer..then what happened????
74.1. NforNandkishor  Aug 11, 2020 12:17 I Like It. 1 | Report Abuse
@bhumika, right shares were traded in Stock Exchange till 07.08.2020. Now you can't sell those shares to anyone.

The only option left for you is to apply for right issue. If you don't apply for right issue today before Cutoff time ( generally 2pm to 5pm ), all your right issue value will be marked down to zero. You will not get single penny for those right entitlement shares
73. Siddhesh  Aug 11, 2020 09:38 I Like It. | Report Abuse Reply
I bought 200 shares of M&M finance before record date and also bought 200 of right issue through netbanking... so my question is when 200 shares of Right Issue will get credited to my demat account as of now its showing only 200 M&M finance..... Please advice
73.1. NforNandkishor  Aug 11, 2020 12:04 I Like It. | Report Abuse
As per my understanding, no one can buy RE share using netbanking. Re shares were traded till 07.08.2020 in Stock Exchange and you could buy it like normal trading.

You should check your demat account holding for right shares. If you don't see RE shares in your portfolio, then your broker is responsible for it. 5 paisa, share khan etc brokers did not credited the re shares in dp account holder and it's a headache for many investors
72. Ankesh  Aug 11, 2020 10:55 I Like It. | Report Abuse Reply
Hi Sir , I have 5 share of m&m fin before 21st july but on 28th it shown me 5 more re share in my zerodha and then i purchased 100 re share.
So how much share i can apply for right issues.
72.1. NforNandkishor  Aug 11, 2020 11:53 I Like It. | Report Abuse
You are eligible to get 105 Mahindra finance right issue @50 Rs if you apply for right issue.
71. Subhash Prakash Avadhut  Aug 9, 2020 08:04 I Like It. | Report Abuse Reply
Sir ,I have100 shares in my holding and I got 100 shares of re but don't know I to claim it I am new in share market. I have damat a c and net banking facility is available .sir please stop my loss .
71.1. Sanjay D Jain  Aug 9, 2020 16:01 I Like It. | Report Abuse
Pls contact with your broker or check ur email if any email from Mmm Fin then take print out and go to your bank and give via ASBA mode.
TKS.
71.2. NforNandkishor  Aug 11, 2020 09:51 I Like It. 1 | Report Abuse
@subhash, apply today using asba netbanking from your bank. Today is the last day to apply for right issue.
70. AshishIPO  Aug 4, 2020 20:09 I Like It. | Report Abuse Reply
Pl guide me

I have 50 shares of M&M Finance Ltd (MMFSL), I am eligible for 50 Right shares (ratio 1:1) of MMFSL @50/- (Application money Rs 2500)

Now, How much more Right shares I should apply so that I can get allot maximum Right shares.

I don't know current subscription and my capacity is to apply upto 2000 Right shares @50/- (Application amount 1 lac).
70.2. vibhor Saxena  Aug 5, 2020 21:15 I Like It. 1 | Report Abuse
You can apply only the shares you have in your demat or you can buy RE which are trading from 28th and which will be traded till 7th... Buy those RE and you will be able to apply for the rights, as per your holdings and RE combined...
70.3. NforNandkishor  Aug 11, 2020 00:07 I Like It. 2 | Report Abuse
@Ashish
The issue is already fully subscribed(99%) today. By end of 11.08.2020, issue will be oversubscribed by 1.5 times. I think there will be no use of subscribing more than your eligibility.

After all choice is yours. You can try your luck by applying in full force. But don't expect much from it.
69. Mallikarjunarao  Aug 10, 2020 21:12 I Like It. | Report Abuse Reply
I bought RE shares (renouncee and hold rights entitlement) and holding in my demat account. when i'm trying to apply RE issue in "https://rights.kfintech.com/mahindra/apply/apply2.aspx?q=81zBoVcnxOtSDXcqfmHcMauA4J4YOr5pAm6aRITSWhg3AYYQVezefw%3d%3d" error is getting and saying that "Not a Renouncee - Select Shareholder On Record Date". Did anyone facing this issue and how to overcome this ?
69.1. NforNandkishor  Aug 10, 2020 21:44 I Like It. | Report Abuse
You should apply with netbanking asba. https://rights.kfintech.com/ site has static data as on 22.07.2020. Since you have purchased RE shares after 22 Jul, your DP account details will not be available in https://rights.kfintech.com/ database. So apply through asba.
68. Balakumar  Aug 8, 2020 10:11 I Like It. | Report Abuse Reply
Sir I apply 50 Rs price REShares on 28.07.2020 by asfa NetBanking unfortunately money problem, I sell Re share and trading shares
My money blocked in the bank
When release the blocked amount?
68.1. NforNandkishor  Aug 10, 2020 20:20 I Like It. | Report Abuse
@Balakumar, you can cancel your asba application by visiting net banking before cutoff time(generally 2 pm to 4pm ) on 11.08.2020. If you do not cancel your application, amount will be unblocked by RTA on or before 21.08.2020
67. NforNandkishor  Aug 10, 2020 20:05 I Like It. | Report Abuse Reply
m&mfinance right issue subscribed 0.9978 times till 6 PM of 10.08.2020.
66. Vinod patni  Aug 8, 2020 11:37 I Like It. | Report Abuse Reply
Sir I have 150 shares and I have also 150 right share in my account but I have'nt net banking facility in my demat linked account...How can I purchase it
I have another yes bank account with net banking
But this account is not linked with my dekar account
Please guide me how I purchase my right...
Can I purchase it with any other persons account also
66.2. Deepak  Aug 9, 2020 21:55 I Like It. | Report Abuse
I sugget to use upi
66.3. NforNandkishor  Aug 10, 2020 20:02 I Like It. | Report Abuse
Vinod sir, you may apply through yesbank asba. Pan number of the applicant and pan number of the bank account through which application is made should be same. So, even if your demat account has different bank account, it will not create any problem and your application will be marked valid
65. Ayushi  Aug 10, 2020 01:28 I Like It. | Report Abuse Reply
Sir I am having 250 shares on M&Finance. I have taken it on 25 july 2020 .In my upstocks online account on 28 july 2020 my Account was showing more 250 share of 50rs each. But I haven't done any process of applying right issue till 8 August 2020 ..
I need to ask what will be the current situation of my M&MF share .I will be getting the benefit now or not
65.1. NforNandkishor  Aug 10, 2020 19:57 I Like It. | Report Abuse
Mam
Probably upstocks is showing your RE shares. If you do not apply for right issue by 11.08.2020, all entitlement shares will be marked down to zero. Only 250 shares on M&MFinance will be there in your demat account
64. Maverick  Aug 8, 2020 14:18 I Like It. | Report Abuse Reply
1. I had 250 Mahindra FIn Shares on record date. I purchased additional 250 RE rights on Zerodha kite on 06 Aug 20. However when I went on kfintech.com website it showed only RE for 250 and not 500 against my demat ID.
2. How do I pay Rs 50 per share for the additional 250 RE I had bought on 06 Aug 20.
63. HARINATHA SUNKARA  Jul 31, 2020 22:28 I Like It. | Report Abuse Reply
I have purchased 300 shares of your company on 21 July 20 @233.7 per share. Rights entertainment day.suppose to be credit in DB within T+2 days means 23 July 20. This happened T + 5 trading secession.. that is on 28 th July 20 . The shares credited in DP account mentioned in services Email from CDSL is MAHINDRA & MAHINDRA Financial SERVICES LTD#RIGHTS ENTITLEMENTS FOR FULLY PAID UP EQUITY SHARES But I don't got mail or unable to apply which causes me huge losses. So please help me. MY BROKERAGE COMPANY 5 PAISE NOT HELPING. Please reply me whether I am eligible or not. How to get it.
63.4. Srinivasan Lakshmanan  Aug 5, 2020 23:46 I Like It. | Report Abuse
Please write directly to the grievance dept and to the CEO which I am going to do. Those have bought shares on 21st July with other brokers have got RE. Only with 5Paisa people are encountering grievance@5paisa.com and CEO prakrash@5paisa.com
63.5. Hrudananda nayak  Aug 7, 2020 20:31 I Like It. | Report Abuse
Same happened with me sharekhan also they are cheating customers but you can apply for all share bought on 21st July.
62. Venkat Prathipati  Aug 7, 2020 16:25 I Like It. | Report Abuse Reply
Hi All,

I have taken M&MFIN shares on 07-Aug-2020, am I eligible for Rights issue shares, Please advise..

Thanks in Advance...!!!
62.1. Johny  Aug 7, 2020 20:03 I Like It. 1 | Report Abuse
If you have bought M&MFIN-RE (Entitlments) then Yes. If you bought M&MFin then No.
61. Debmalya  Jul 31, 2020 18:13 I Like It. | Report Abuse Reply
Hi, I have 100 shares in M&M Financial as on record date. Should I apply for 100 rights issue only or I can apply even more? Since, the quantity cell is blank & I am free to put any number.
61.1. Ou Ai  Aug 2, 2020 14:06 I Like It. | Report Abuse
Sorry, I wrongly replied to your another post.

You can apply for any number of shares , even more than your entitlement if you had original shares on record date. You will be allotted your entitlement fully then shares that are not taken by other right holders if available on proportionate basis.
61.2. Debmalya  Aug 7, 2020 15:58 I Like It. | Report Abuse
Thanks
60. ranjana mukherjee  Aug 7, 2020 09:22 I Like It. | Report Abuse Reply
purchased 200 nos share under my right issue allocation .wheather i purchase more share under right issue or renounce in my husband d.p
59. Black Swan  Aug 5, 2020 20:37 I Like It. | Report Abuse Reply
3,30,69,836 qty as on Aug 5 2020 6:00PM BSE
3,70,84,505 qty as on Aug 5 2020 5:00PM NSE
Total Bids - 7,01,54341
Overall Subscription - 11.35%
59.1. Chaitanya  Aug 6, 2020 04:51 I Like It. | Report Abuse
Hello Black swan, I have a quick question. Where exactly I can check the subscription status both on NSE and BSE. please guide me on this. I appreciate ur help

One more thing if it is under subscribed and if I apply for rights more than my RE, I heard then I will be allotted for additional shares than my RE. In that case will I have to pay more than 50₹??
58. NforNandkishor  Aug 4, 2020 17:48 I Like It. | Report Abuse Reply
@chittorgarh admin
Can you please post the latest subscription figure of Mahindra finance right issue (like you did for Rossari, Mindspace ipo) or share a link to check
57. Amit  Aug 4, 2020 15:27 I Like It. | Report Abuse Reply
Can we see the subscription status for this? If yes, how and what is it right now?
56. goutam  Aug 3, 2020 13:57 I Like It. | Report Abuse Reply
Sir
My fund house informed that 100 nos right shares can be seen in my dp .....
No confirmation mail or sms record by me .
Can I apply through ASBA
56.1. Ou Ai  Aug 4, 2020 07:00 I Like It. | Report Abuse
Do you have no access to see your own DP account? It's risky that you leave it someone else operate. You can apply for rights in ASBA
55. chandan das  Aug 3, 2020 17:11 I Like It. | Report Abuse Reply
I have 100 share of M&Mfin share on record date and 100 share of M&M fin RE currently on my dp. If now I sell my RE share then I eligible for right share more than 100 or 100 @50/= and what is the basis of RE Share listing value. Kindly tell me the details. Thanks
55.1. Ou Ai  Aug 4, 2020 06:59 I Like It. | Report Abuse
Once you sell your RE , you can not apply for rights. If you apply, it will not be allotted.
54. Right investor  Aug 3, 2020 19:01 I Like It. | Report Abuse Reply
I have first aplied for Mahindra Finance Rights issue on 30/07/2020 through SBI ASBA. At that time I was not eligible for Right Shares. Now on 03/08/2020 I have bought Mahindra Financa-RE (Rights entitlement) from secondary market.
Will my earlier rights application be considered valid orI will have to apply afresh for Mahindra Finance Right Shares?
Pl help by answering.
54.1. Ou Ai  Aug 4, 2020 06:57 I Like It. | Report Abuse
When you applied you did not have right. So it is likely to be rejected. You apply afresh. Suggest apply through Karvy Kfin now