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I would like to know how the whole mechanism of call option for this partly paid right issue will work. Considering it is open to retail as well and it is an equity product.

Suppose per A pays 25% price today to purchase. Can he sell this stock in secondary market before the next call option.
If yes how does the mechanism work.
If no then what happens id the retail investor A defaults on 75% payment?

While we have seen such products in debt i believe this is new of its kind in equity.