Announcements

Majesco Limited. Takeover

Aurum Platz IT Private Limited has decided to acquire (takeover) up to 74,43,720 equity shares of Majesco Limited at a price of Rs. 77 per equity shares between 20th May 2021 to 3rd June 2021.

Read on to know how you can apply for it quickly and easily -

What is a takeover and why should you opt for it?
It’s a corporate action where a company or group of companies offers to buy or acquire shares of another company in order to gain enough control in that company. In this case, Aurum Platz IT Private Limited has decided to acquire shares of Majesco Limited. To learn more about a takeover, click here.

What does this offer mean for Majesco Limited shareholders?
A takeover is usually done at a higher price than the market price, thus giving shareholders a chance to sell their shares at a higher price.

Existing Majesco Limited shareholders holding Majesco Limited shares can offer to sell their shares for Rs. 77 per equity share by applying to this takeover offer before 2 PM on 3rd June 2021.

How to apply for a takeover?
Just follow these steps:

1. Login into keystone.upstox.com with your client code and back-office password
2. Click on “Account” on the top of the header line
3. Click on “Buy Back/ Takeover” from the drop-down
4. Click on “Apply” and enter the quantity
5. Submit the request

Note: Non-POA holders will need to enter a valid pin to authenticate the takeover via EDIS to proceed.

When can you apply?

Apply for this takeover before 2 PM on 3rd June 2021.

What to keep in mind while applying?

• You shouldn’t sell these shares on or before 3rd June 2021 if you’re interested to take part in the takeover offer.
• After applying and offering your shares up for a takeover, you cannot sell them in the market and modify or cancel your original bid.
• You can only sell these shares in the market If the company cancels the takeover and you receive your shares back from the company.
• You will receive the takeover amount for the shares from Majesco Limited/ Registrar & Transfer Agent (RTA) directly into your bank account (this will be updated in the records of the depository as well).
• A total of 74,43,720 shares will be accepted by Majesco Limited for the takeover and the remaining shares not accepted by Majesco Limited  will be returned back to shareholders in their Demat account. 
• Majesco Limited  will credit the payment for the accepted shares and the unaccepted shares will be returned to the user's Demat accounts within 10 days from the date of offer closure i.e. 3rd June 2021.
• The percentage of shares accepted will be decided based on the number of retail investors who have applied for the takeover.

That’s all about the Majesco Limited takeover, stay tuned for more takeover updates from Upstox! 

The SIS Ltd. buy-back offer of Rs. 550 per share is LIVE on the Upstox platform till 27th May 2021.

Read on to know what this means and how you can apply for it quickly and easily -

What is a buy-back and why should you opt for it?
It’s a corporate action where a company offers to buy-back its shares from the existing shareholders usually at a higher price than the market price. To learn more about a buy-back, click here.

What does this offer mean for SIS Ltd. shareholders?
Existing SIS Ltd. shareholders holding SIS Ltd. as of 9th April 2021 (which is the Record date) can offer to sell their shares back to SIS Ltd. for Rs. 550 per share by applying to their buy-back offer on or before 27th May 2021.

How to apply for a buy-back?
Just follow these steps:

1. Login into keystone.upstox.com with your Upstox User ID and password
2. Click on “Account” on the top of the header line
3. Click on “Buy Back/ Takeover” from the drop-down
4. Click on “Apply” and enter the quantity
5. Submit the request

Note: Non-POA holders will need to enter a valid pin to authenticate the buy-back via EDIS to proceed.

When can you apply?

Apply for this buy-back on or before 27th May 2021.

What to keep in mind while applying?

• You can only apply for this buy-back if you hold shares of SIS Ltd. in your Demat account as on  9th April 2021.
• You shouldn’t sell these shares on or before 27th May 2021 if you’re interested to take part in the buy-back offer.
• After applying and offering your shares up for a buy-back, you cannot sell them in the market and modify or cancel your original bid.
• You can only sell these shares in the market If the company cancels the buy-back and you receive your shares back from the company.
• You will receive the buy-back amount for the shares from SIS Ltd. / Registrar & Transfer Agent (RTA) directly into your bank account (this will be updated in the records of the depository as well).
• A total of 18,18,181 shares will be accepted by SIS Ltd. for the buyback and the remaining shares not accepted by SIS Ltd. will be returned back to shareholders in their Demat account. The percentage of shares accepted will be decided based on the number of retail investors who have applied for the buyback. 

That’s all about the SIS Ltd. buy-back, stay tuned for more buy-back updates from Upstox! 

RIL’s partly paid-up equity shares were suspended from trading on 10th May 2021. You can read more about this in our announcement here. 

According to this, all holders of RIL’s partly paid-up equity shares (as on record date 12th May 2021) will be required to pay the first call of Rs. 314.25 per partly paid-up equity share.
The amount will have to be paid between 17th May to 31st May 2021 (both days included). In case there is a delay in payment or the holders are unable to pay, penalties will be applicable.

How to make the payment of Rs. 314.25 per partly paid-up equity share?
You can make the payment online or offline. Here are the available online payment methods:

1. Through NetBanking or UPI from the R-WAP portal: https://rights.kfintech.com/callmoney.

2. Through ASBA (Applications Supported by Blocked Amount) online if your bank supports it just like you do for an IPO.

What happens in case of a delayed or non-payment of these partly paid-up equity shares?
The following consequences will be applicable:

1. An interest of 8.00 % p.a. will be applicable for the delay in payment beyond 31st May 2021 till the actual date of payment.

2. The partly paid-up equity shares, including the amount already paid will be forfeited 

3. The company will be entitled to deduct from any dividend payable, the outstanding amount for the partly paid-up equity shares and the interest applicable on it

To know more about the applicable consequences and about the offline and online payment methods in detail, click to read the FAQs here.

Key pointers to keep in mind if you own RIL’s partly paid-up equity shares:

1. You need to pay Rs. 314.25 per partly paid-up equity share between 17th May to 31st May 2021. Payment methods are mentioned above. 

2. You will be unable to see RIL’s partly paid-up equity shares in your portfolio holdings on the Upstox app or web platform as they are suspended from trading.  However, you can view them from our Keystone portal by following the steps mentioned here.

3. Consequences as mentioned above will be applicable if you’re unable to pay for the partly paid-up equity shares on time.

Stay tuned for more updates from Upstox! 

On account of Ramzan Eid, markets will be closed on Thursday, 13th May 2021. Trading will resume on Friday, 14th May 2021.

MCX will be closed on Thursday, 13th May 2021 for the morning session. The second session (5:00 PM to 11:30 PM) will take place as usual.

Please note: All fund withdrawal requests placed on Thursday will be processed on Friday, 14th May 2021.

Sundaram Finance Holdings Limited has credited existing shareholders’ Demat accounts with REs (Rights Entitlements) after it announced a Rights Issue.

What does this mean?
A company announces a Rights Issue to invite existing shareholders to buy more shares, usually at a discounted price. These shares are known as Rights Shares.

After the Rights Issue is announced, the company then credits its existing shareholders’ Demat Accounts with REs (Rights Entitlements).

These REs are not the Right Shares but the benefit given to existing shareholders to apply for the Right Shares. If shareholders do not wish to apply for these Rights Shares, they can even trade these REs in the market until a particular date.

To learn more about rights, click here.

What does this mean for Sundaram Finance Holdings Limited  shareholders?
Existing shareholders of Sundaram Finance Holdings Limited (as on record date 27th April 2021) have two options - 

1. They can use their REs to apply for more shares of Sundaram Finance Limited (in proportion to their existing shares - 23 for every 49 shares held) at a price of Rs.50  per share.
2. If they do not wish to apply for more shares, they can even trade their REs in the market.

Please note: REs only give you the right to participate in the ongoing Rights Issue of a company. This means using these REs you can make an application for Rights Shares with necessary application money or renounce the REs before the issue closes.

REs which are neither subscribed by making an application with requisite application money nor renounced, on or before the Issue closing date shall lapse and shall be extinguished after the Issue closing date.

What dates should one keep in mind?
Last date to trade your Rights Entitlement: 28th May 2021
If you do not wish to apply for the rights shares, you can trade your REs in the market on or before this date.
Last date to apply for Rights Shares:  2nd June 2021
If you’re interested in applying for the right shares, you can apply on or before this date.

How To Apply for Rights Shares?
There are 3 ways to apply -
1. Online through ASBA (Applications Supported by Blocked Amount) if your bank supports it just like you do for an IPO. 

2. Online through the RTA (Registrar and Transfer Agent) website 
https://online.cameoindia.com/ 

3. Offline by filling the Composite Application Form (CAF) received in your courier from the company’s RTA and then submitting it at a Self Certified Syndicate Banks (SCSBs) branch.