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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84 Comments

Vijiv
84. Vijiv  Aug 15, 2020 14:27 I Like It. | I Don't 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.
echaos
83. echaos  Aug 13, 2020 18:51 I Like It. | I Don't 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.
NforNandkishor
83.1. NforNandkishor  Aug 13, 2020 20:36 I Like It. 1 | I Don't Like It. | Report Abuse
Don't worry, You will get 500 shares. Many people have applied more than their eligibility. That is why oversubscription happened. Please see the below comments for detailed information
echaos
83.2. echaos  Aug 14, 2020 13:31 I Like It. | I Don't Like It. | Report Abuse
Thanks for response.
vikas
82. vikas  Aug 14, 2020 09:56 I Like It. | I Don't Like It. | Report Abuse Reply
when the shares will be credited to demat a/c
goutam
81. goutam  Aug 13, 2020 19:17 I Like It. | I Don't Like It. | Report Abuse Reply
@NforNandkishor sir .....Thank you for clarifying all the doubts....Namaste /\
NforNandkishor
81.1. NforNandkishor  Aug 13, 2020 20:39 I Like It. | I Don't Like It. | Report Abuse
Thanks Goutam ☺️
kaushal
80. kaushal  Aug 13, 2020 12:57 I Like It. | I Don't Like It. | Report Abuse Reply
any one can give data that m&m finance ltd right issue subscription figures ?
NforNandkishor
80.1. NforNandkishor  Aug 13, 2020 20:38 I Like It. | I Don't Like It. | Report Abuse
1.314 times
pawan agarwal
79. pawan agarwal  Aug 12, 2020 17:14 I Like It. | I Don't 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.
NforNandkishor
79.1. NforNandkishor  Aug 12, 2020 22:39 I Like It. | I Don't 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
Jeevan
78. Jeevan  Aug 8, 2020 13:12 I Like It. | I Don't 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?
NforNandkishor
78.1. NforNandkishor  Aug 10, 2020 20:15 I Like It. 1 | I Don't Like It. | 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.
Jeevan
78.2. Jeevan  Aug 12, 2020 13:11 I Like It. | I Don't 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.😊
goutam
77. goutam  Aug 12, 2020 10:29 I Like It. | I Don't Like It. | Report Abuse Reply
Sir when will it credit into demat from RE...As applied for all which Re allowed me...Thanks
NforNandkishor
77.1. NforNandkishor  Aug 12, 2020 11:42 I Like It. 1 | I Don't Like It. | 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
NforNandkishor
76. NforNandkishor  Aug 11, 2020 12:48 I Like It. | I Don't 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
goutam
76.3. goutam  Aug 12, 2020 10:35 I Like It. | I Don't 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
NforNandkishor
76.4. NforNandkishor  Aug 12, 2020 11:35 I Like It. | I Don't 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.
KAUSHAL BODANI
75. KAUSHAL BODANI  Aug 11, 2020 10:48 I Like It. | I Don't Like It. | Report Abuse Reply
where can we get to see how much subscribe this right issue ?
mukesg
75.2. mukesg  Aug 11, 2020 18:20 I Like It. | I Don't 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
NforNandkishor
75.3. NforNandkishor  Aug 11, 2020 22:40 I Like It. | I Don't Like It. | Report Abuse
Mahindra finance right issue subscriptions status πŸ‘‡πŸ‘‡πŸ‘‡πŸ‘‡πŸ‘‡
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
Bhumika
74. Bhumika  Aug 11, 2020 12:00 I Like It. | I Don't 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????
NforNandkishor
74.1. NforNandkishor  Aug 11, 2020 12:17 I Like It. 1 | I Don't Like It. | 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
Siddhesh
73. Siddhesh  Aug 11, 2020 09:38 I Like It. | I Don't 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
NforNandkishor
73.1. NforNandkishor  Aug 11, 2020 12:04 I Like It. | I Don't 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
Ankesh
72. Ankesh  Aug 11, 2020 10:55 I Like It. | I Don't 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.
NforNandkishor
72.1. NforNandkishor  Aug 11, 2020 11:53 I Like It. | I Don't Like It. | Report Abuse
You are eligible to get 105 Mahindra finance right issue @50 Rs if you apply for right issue.
Subhash Prakash Avadhut
71. Subhash Prakash Avadhut  Aug 9, 2020 08:04 I Like It. | I Don't 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 .
Sanjay D Jain
71.1. Sanjay D Jain  Aug 9, 2020 16:01 I Like It. | I Don't 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.
NforNandkishor
71.2. NforNandkishor  Aug 11, 2020 09:51 I Like It. 1 | I Don't Like It. | Report Abuse
@subhash, apply today using asba netbanking from your bank. Today is the last day to apply for right issue.
AshishIPO
70. AshishIPO  Aug 4, 2020 20:09 I Like It. | I Don't 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).
vibhor Saxena
70.2. vibhor Saxena  Aug 5, 2020 21:15 I Like It. 1 | I Don't Like It. | 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...
NforNandkishor
70.3. NforNandkishor  Aug 11, 2020 00:07 I Like It. 2 | I Don't Like It. | 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.
Mallikarjunarao
69. Mallikarjunarao  Aug 10, 2020 21:12 I Like It. | I Don't 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 ?
NforNandkishor
69.1. NforNandkishor  Aug 10, 2020 21:44 I Like It. | I Don't 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.
Balakumar
68. Balakumar  Aug 8, 2020 10:11 I Like It. | I Don't 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?
NforNandkishor
68.1. NforNandkishor  Aug 10, 2020 20:20 I Like It. | I Don't 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
NforNandkishor
67. NforNandkishor  Aug 10, 2020 20:05 I Like It. | I Don't Like It. | Report Abuse Reply
m&mfinance right issue subscribed 0.9978 times till 6 PM of 10.08.2020.
Vinod patni
66. Vinod patni  Aug 8, 2020 11:37 I Like It. | I Don't 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
Deepak
66.2. Deepak  Aug 9, 2020 21:55 I Like It. | I Don't Like It. | Report Abuse
I sugget to use upi
NforNandkishor
66.3. NforNandkishor  Aug 10, 2020 20:02 I Like It. | I Don't 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
Ayushi
65. Ayushi  Aug 10, 2020 01:28 I Like It. | I Don't 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
NforNandkishor
65.1. NforNandkishor  Aug 10, 2020 19:57 I Like It. | I Don't 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
Maverick
64. Maverick  Aug 8, 2020 14:18 I Like It. | I Don't 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.
HARINATHA SUNKARA
63. HARINATHA SUNKARA  Jul 31, 2020 22:28 I Like It. | I Don't 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.
Srinivasan Lakshmanan
63.4. Srinivasan Lakshmanan  Aug 5, 2020 23:46 I Like It. | I Don't 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
Hrudananda nayak
63.5. Hrudananda nayak  Aug 7, 2020 20:31 I Like It. | I Don't 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.
Venkat Prathipati
62. Venkat Prathipati  Aug 7, 2020 16:25 I Like It. | I Don't 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...!!!
Johny
62.1. Johny  Aug 7, 2020 20:03 I Like It. 1 | I Don't Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts, 400+ Likes)
If you have bought M&MFIN-RE (Entitlments) then Yes. If you bought M&MFin then No.
Debmalya
61. Debmalya  Jul 31, 2020 18:13 I Like It. | I Don't 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.
Ou Ai
61.1. Ou Ai  Aug 2, 2020 14:06 I Like It. | I Don't 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.
Debmalya
61.2. Debmalya  Aug 7, 2020 15:58 I Like It. | I Don't Like It. | Report Abuse
Thanks
ranjana mukherjee
60. ranjana mukherjee  Aug 7, 2020 09:22 I Like It. | I Don't 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
Black Swan
59. Black Swan  Aug 5, 2020 20:37 I Like It. | I Don't 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%
Chaitanya
59.1. Chaitanya  Aug 6, 2020 04:51 I Like It. | I Don't 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 50β‚Ή??
NforNandkishor
58. NforNandkishor  Aug 4, 2020 17:48 I Like It. | I Don't 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
Amit
57. Amit  Aug 4, 2020 15:27 I Like It. | I Don't Like It. | Report Abuse Reply
Can we see the subscription status for this? If yes, how and what is it right now?
goutam
56. goutam  Aug 3, 2020 13:57 I Like It. | I Don't 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
Ou Ai
56.1. Ou Ai  Aug 4, 2020 07:00 I Like It. | I Don't 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
chandan das
55. chandan das  Aug 3, 2020 17:11 I Like It. | I Don't 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
Ou Ai
55.1. Ou Ai  Aug 4, 2020 06:59 I Like It. | I Don't Like It. | Report Abuse
Once you sell your RE , you can not apply for rights. If you apply, it will not be allotted.
Right investor
54. Right investor  Aug 3, 2020 19:01 I Like It. | I Don't 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.
Ou Ai
54.1. Ou Ai  Aug 4, 2020 06:57 I Like It. | I Don't 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
Lekkala
53. Lekkala  Aug 2, 2020 19:26 I Like It. | I Don't Like It. | Report Abuse Reply
I have 50 RE shares from M&M Finance. and I have received confirmation letter from M&M and 50 RE shares are showing in my Demat Account. but when I want to buy online my Demat and PAN is not accepting and giving message enter 16 characters even I enter the correct details.i have registered in easi with same demat and pan. please advise how to buy my shares. I have NRO account is this any problem.
Ou Ai
53.1. Ou Ai  Aug 3, 2020 04:55 I Like It. | I Don't Like It. | Report Abuse
In KFIN site you may be entering DPID and PAN. It's incorrect. Need to enter DPID beginning with IN........ (8 digits) followed by your Customer ID (8 digits) , adds to 16. Nowhere do you need to enter PAN number.
Arun
52. Arun  Aug 1, 2020 08:06 I Like It. | I Don't Like It. | Report Abuse Reply
I purchased 100 shares of M&M Finance on 22.7.20. How can I apply for the right issue ?
Ou Ai
52.1. Ou Ai  Aug 2, 2020 13:54 I Like It. | I Don't Like It. | Report Abuse
Record Date for rights was 23rd July and ex rights date was 22nd July. You purchased ex rights at lower price. So no eligibility for rights.
Ou Ai
52.2. Ou Ai  Aug 2, 2020 14:40 I Like It. | I Don't Like It. | Report Abuse
You purchased ex rights. So not eligible.
Vijayakrishna Iyengar
51. Vijayakrishna Iyengar  Jul 25, 2020 10:46 I Like It. 1 | I Don't Like It. | Report Abuse Reply
Hello Friends,

I bought 1003 shares on 21/07/2020, but only 866 shares credited to my DP Account (Sharekhan) and I got the entitlement letter for 866 shares only. Please advise how to get the remaining 137 rights shares.

With regards,

Vijayakrishna
VarunS
51.7. VarunS  Jul 29, 2020 10:10 I Like It. | I Don't Like It. | Report Abuse
Hi All,

Kindly check your DP statement. When did you purchase and how much?
How many rights were allotted and then call the customer care & drop a email.

Also, lodge a complaints on igc@sharekhan.com.

If you still need help, let me know
Ou Ai
51.8. Ou Ai  Aug 2, 2020 14:16 I Like It. | I Don't Like It. | Report Abuse
Request your broker transfer those RE received on your behalf to your Dmat off line transfer and you apply for rights.
Pramod Singh
50. Pramod Singh  Jul 29, 2020 10:44 I Like It. | I Don't Like It. | Report Abuse Reply
My Dear Experts,
If I am going to buy 200 shares of M&M Financial in Cash delivery today or tomorrow (29 or 30 July 2020). Will this be eligible for the current Rights issue which is ending on 11th August 2020?
Please reply as soon as possible.
Thanks
Ou Ai
50.1. Ou Ai  Aug 2, 2020 14:14 I Like It. | I Don't Like It. | Report Abuse
Not eligible. Date was 22nd July 2020
Sangram
49. Sangram  Jul 29, 2020 12:06 I Like It. | I Don't Like It. | Report Abuse Reply
Hello,

I have 100 shares of M&mfs and it's showing additional 100 RE shares at zero cost price in my portfollio. I would like to know for these new 100 additional shares, do I have to apply some where or I will get them automatically added.
Ou Ai
49.1. Ou Ai  Aug 2, 2020 14:13 I Like It. | I Don't Like It. | Report Abuse
Either apply from your broker platforms through ASBA or from KFIN at karvy registrars.
Thangamani V
48. Thangamani V  Jul 29, 2020 21:35 I Like It. | I Don't Like It. | Report Abuse Reply
I have rights entitlements 21.
Tomorrow going to buy 10 rights in NSE / BSE tomorrow,30th and further 10 on 31st July 2020.
I think I will get my RE 20 in my DP account before the Rights Issue is closed.
Can I apply for my total RE 21+10+10 =41 on 30th itself, before the bought REs are credited to my DP account?
Ou Ai
48.1. Ou Ai  Aug 2, 2020 14:12 I Like It. | I Don't Like It. | Report Abuse
You have to apply after RE s are credited to your account. You can apply multiple times for different lots if you get it delivered at different times. But, it is convenient to apply all toghter.
Raju
47. Raju  Jul 29, 2020 19:12 I Like It. | I Don't Like It. | Report Abuse Reply
i have paid the amount online for m&m finance right issue 2 days before but today also the re shares remains same when will it change into regular shares
Ou Ai
47.1. Ou Ai  Aug 2, 2020 14:09 I Like It. | I Don't Like It. | Report Abuse
Will be allotted 7 days after rights issue closure date of 13th August 2020
Debmalya
46. Debmalya  Jul 31, 2020 18:26 I Like It. | I Don't Like It. | Report Abuse Reply
HI, I have 100 shares, can I apply for 200?
Ou Ai
46.1. Ou Ai  Aug 2, 2020 14:03 I Like It. | I Don't Like It. | Report Abuse
If you had shares as on 23rd July 20 in your Dmat you would have received 100 rights entitlement for you to apply
.
CA. JAGDISH GOKANI
45. CA. JAGDISH GOKANI  Jul 31, 2020 12:56 I Like It. | I Don't Like It. | Report Abuse Reply
Is there any link or group where i found all the right issue entitlement trading currently ? Or upcoming Right
mohan
44. mohan  Jul 30, 2020 12:59 I Like It. | I Don't Like It. | Report Abuse Reply
Hi ..Can a NRI invest in the same ..
If yes how
Plz share
DG
44.1. DG  Jul 30, 2020 18:18 I Like It. | I Don't Like It. | Report Abuse
Yes, provided you have rights entitlement available in your demat account

use Bank's ASBA option to apply
Amey
43. Amey  Jul 30, 2020 13:33 I Like It. | I Don't Like It. | Report Abuse Reply
I am NRI and have 800 right issue shares how can I apply for right as RWAP dosent work for NRI
DG
43.1. DG  Jul 30, 2020 18:16 I Like It. | I Don't Like It. | Report Abuse
Hi,
you can go to your NRI Bank account and use ASBA to subscribe. you will need to add your Demat account details here and apply from Bank's account ASBA option to apply.
Mohit kalwar
42. Mohit kalwar  Jul 29, 2020 00:02 I Like It. | I Don't Like It. | Report Abuse Reply
I bought 36 shares on 22nd july 2020 ....m I elegible for rights share ..??
Surendra
42.2. Surendra  Jul 30, 2020 15:49 I Like It. | I Don't Like It. | Report Abuse
No... u r not eligible, since u bought shares on exdate
Suresh Purohit
42.3. Suresh Purohit  Jul 30, 2020 16:30 I Like It. | I Don't Like It. | Report Abuse
You are not eligible,since shares bought by you on 22nd July will be credited to your Dmat account on t+2 days the shares are not there on the 22nd in your Dmat account,hence you not eligible for the right issue.
Sam
41. Sam  Jul 29, 2020 22:05 I Like It. | I Don't Like It. | Report Abuse Reply
Hi i buy share on 21_ July n sell on same day and also buy on 22July am i eligible for REs
G B Singh
40. G B Singh  Jul 29, 2020 20:59 I Like It. | I Don't Like It. | Report Abuse Reply
Sir,
Can you send me a link of the registrar or company for applying right issue.
I have only 50 shares, can I apply more.
Thanks
GBSingh
Kalpana
39. Kalpana  Jul 28, 2020 21:15 I Like It. | I Don't Like It. | Report Abuse Reply
I have 50 shares. But how to apply for the right issue through hdfc bank or hdfc security pl explain.
Ajay Mankotia
39.1. Ajay Mankotia  Jul 29, 2020 20:57 I Like It. | I Don't Like It. | Report Abuse
1. http://rights.kfintech.com/mahindra
2. Enter your DP ID:
3. Enter PAN
4. Select Payment Mode e.g. Netbanking
5. Pay through netbanking @50 per share
meeta parmar
38. meeta parmar  Jul 29, 2020 08:38 I Like It. | I Don't Like It. | Report Abuse Reply
A ) shares holding in MTF , rights not reflected in DP as well as Position, please guide
where rights are allocated ?
B ) New rights shares listed in what name & earlier M&MFin price 158 & nre rights issue purchase Rs 50, so will demat holding will reflect the price merge or seperate
VarunS
38.1. VarunS  Jul 29, 2020 10:03 I Like It. | I Don't Like It. | Report Abuse
A ) shares holding in MTF , rights not reflected in DP as well as Position, please guide
where rights are allocated ?

- This will be shown under your Demat Holding. You will be able to see how many M&M RE is allotted to you and accordingly you can apply.

B ) New rights shares listed in what name & earlier M&MFin price 158 & nre rights issue purchase Rs 50, so will demat holding will reflect the price merge or seperate

- Shares allotted during Rights Issue at Rs 50 will get merged with the actual M&M share post rights issue.

Regards,
Varun
Shivakumar
37. Shivakumar  Jul 29, 2020 00:44 I Like It. | I Don't Like It. | Report Abuse Reply
Hi
I bought 50 shares on 21st July at Rs 228 through Axis direct. But still Right entitlement for the shares was not credited to demat account.
Please guide me in getting the entitled shares.

Thanks
Shivakumar
gitrading
36. gitrading  Jul 28, 2020 22:35 I Like It. | I Don't Like It. | Report Abuse Reply
ANSWER FOR WHERE TO APPLY...
1. ASBA facility in your netbanking site
2. R-WAP (https://rights.kfintech.com/mahindra/)

abhishek
35. abhishek  Jul 28, 2020 22:23 I Like It. | I Don't Like It. | Report Abuse Reply
I have 1000 shares alloted for right issue entitlement can I bid for 2000 shares under Asia.








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