Feedback Message Board

TCS balance shares credited to demat

Those are confused about acceptance ratio of TCS is 26%

TOTAL SHARES HOLDING ON RECORD DATE
ZERODHA - 11 SHARES
ICICIDIRECT - 32 SHARES

ENTITLEMENT RATIO - 14.6158409

FOR ZERODHA - 11 * 14.6158409% = 1.60 - FRACTION SKIPPED = 1
FOR ICICIDIRECT - 32 * 14.6158409% = 4.67 - FRACTION SKIPPED = 4

ENTITLEMENT -
ZERODHA - 1
ICICIDIRECT - 4
TOTAL - 5

NOW ACCEPTANCE
==============
ADDITIONAL SHARES TENDERED
ZERODHA - 10 (EXCLUDING ENTITLEMENT)
ICICIDIRECT - 28 (EXCLUDING ENTITLEMENT)

FINAL ACCEPTANCE RATIO IS 26%, BUT AS ENTITLEMENT ALREADY CALCULATED AS 14.61%,
26 - 14.61 = 11.39% FOR ADDITIONAL SHARES

ZERODHA - 10 * 11.39% = 1.139 - FRACTION SKIPPED - 1
ICICIDIRECT - 28 * 11.39% = 3.18 - FRACTION SKIPPED - 3

TOTAL ACCEPTANCE
ZERODHA = 1 (ENTITLEMENT) + 1 (ADDITIONAL) = 2
ICICIDIRECT = 4 (ENTITLEMENT) + 3 (ADDITIONAL) = 7

TOTAL 9 SHARES ACCEPTED FROM 43 SHARES ---- IT IS - 20.93% ONLY

==============================================================================

IF SHARES HOLDING ONLY IN ONE DEMAT THEN
ENTITLEMENT FOR 43 SHARES = 43 * 14.6158409% = 6.28 = 6 (FRACTION SKIPPED)
ACCEPTANCE = 43 - 6 = 37 * 11.39% = 4.21 = 4 (FRACTION SKIPPED)

TOTAL = 6 (ENTITLEMENT) + 4 (ADDITIONAL) = 10
FINAL RATIO = 23.25%

LOSS OF 1 SHARE ACCEPTANCE DUE TO HOLDING IN 2 DEMAT A/C
==============================================================================

This makes sense. My accepted shares (Zerodha) match this calculation. What's strange is in another Demat account (Groww), I'd 6 shares. This didn't even get an entitlement note. (Maybe because its 1:7 entitlement ratio) But I see in Groww now 4 shares are available. If 2 shares are accepted, then it would be 33.33% acceptance ratio. Any rationale behind this?