Why can't I see Reliance PP (Partly Paid) shares in my Zerodha Kite holdings?
Reliance Industries Limited conducted a rights issue in May - June 2020 and issued rights shares at Rs. 1257 per share on a partly-paid basis. Meaning, the company only collected a part payment of Rs. 314.25 off the Rs. 1257 when the application for rights shares was made and the remaining payment of Rs. 942.75 was to be collected at a later date in two instalments.
Reliance made the first call for the partly-paid shares in May 2021 and collected a further Rs. 314.25/- per share. Reliance on 27th Oct 2021 decided to make the second and final call for the remaining balance of Rs. 628.50/- per share through this announcement .
The company has fixed 10th November 2021 as the record date to ascertain the shareholders to whom the second and final call notice will be sent. As a result, w.e.f 9th November 2021 the partly-paid shares of Reliance will be suspended from trading on the exchanges.
Reliance Industries may forfeit your shares and levy interest on the amount you owe if you fail to pay the call money. The call money can be paid through the Registrar's Portal using the below-highlighted option:
You can pay the call money between 15th and 29th November 2021. The option to make payment is also available through the netbanking portal in the following banks:
Click here for more FAQs compiled by Kfintech (i.e. the Registrar of the company).
The amount paid to the company will reflect in the price of the new shares.
For instance, assume Reliance PP is trading at Rs. 1870 before the suspension. If the price of fully paid Reliance shares does not change, the theoretical price of new Reliance PP shares should be around Rs. 2498.25 (i.e. 1870 + 628.25). The share may trade at a slight premium or discount to this theoretical price.
Check out this TradingQ&A post for updates.