Announcements

As per practices in the broking industry, Upstox uses the First In, First Out (FIFO) method to calculate the average price for overnight (Delivery) positions and holdings. We have now refined the calculation of average price for holdings after considering the events of past corporate actions of companies.

You can learn more about how the average price will now be calculated by clicking here https://bit.ly/30Wd3Jy

The Satin Creditcare Network in an attempt to raise Rs. 120 crore has decided to release a rights issue. The issue price per share has been fixed at Rs. 60 and the rights issue is set to close on 26th August 2020. Here’s a little more about this.

Understanding what a Rights Entitlement is
A company may resort to various means of raising capital while pursuing expansion goals, attempting to achieve a debt-free status or building new assets. One such means is a rights offer. This involves entitling existing shareholders to a specific number of rights as per the ratio set by the company.

Thus, rights entitlement offers existing shareholders the chance to buy more shares in the company at a discounted price over a specific period of time.

In the case of Satin Creditcare Network Rights Issue, the proportion issued is 48:125. This means if you own 125 shares of SATIN, you’re entitled to 48 of its shares in this rights entitlement.

Important dates to keep in mind for the rights issue
While the rights issue closes on 26th August, here are other dates to keep in mind.

12th August  – Listing of rights entitlement on the exchange

13th August – Rights entitlement credited to your Demat account

21st August – Last day to trade your rights

In case, you do not wish to subscribe to or forfeit your rights, it is advisable to sell these on the market on or before 21st August 2020. 

Square off will be at 3.10 PM for Equity Intraday and F&O, 4.45 PM for Currency Derivatives, and at 11 PM for MCX. Kindly plan your trades accordingly.

?Up to 10X margins on CO and OCO orders in Nifty and Bank Nifty Futures only.
?Up to 10X margins on CO and OCO orders in EQ (for F&O-listed stocks only).
?Up to 5X margins on Intraday orders in EQ (for F&O-listed stocks only).
?Up to 4X margins on Intraday orders in Currency Derivatives.
?Up to 3X margins on Intraday and CO orders in F&O.
?Up to 3X margins on CO orders on Index options (sell side) and up to 2x on buy side.
?Up to 2.5X margins on Intraday orders in MCX.
?OCO orders are blocked for NSE options and MCX.

This Saturday, 15th August 2020 is a bank holiday. Hence, all fund withdrawal requests placed after 8 AM on Friday, 14th August will be processed on Monday, 17th August. In case you need to utilize our same-day fund withdrawal service and receive your funds on Friday itself, please remember to place a withdrawal request before 8 AM on Friday, 14th August.