Announcements

Let me start by saying that we’re truly sorry.

The Upstox vision is to make trading easy & accessible to all, and somewhere along our journey, we could not deliver our promise. What some of you faced yesterday has been one of our biggest challenges. While we as a brand take complete responsibility for the errors that persisted, kindly allow me to explain why this happened in the first place.

On 1st February 2021, we were facing hardware issues at our end, and one of our primary order management servers (an exchange approved OMS vendor) failed at around 1:20 PM, and our back up server took longer than expected to restore. 80% of our systems are on the cloud; in fact, Amazon has even written a case study on us as a fintech player at the forefront of innovation in cloud. For the part of our system that is still on physical non-cloud infrastructure, we have the latest next-generation servers and invest heavily behind our hardware and tech stack, but sometimes even the best can fail. This was an extremely rare situation, and our team has been continuously at work to ensure that something of this magnitude does not occur ever again. We sincerely apologize for the truly unfortunate incident and are working hard at ensuring an even lower dependence on physical (non-cloud) infrastructure.

In the immediate term, we have fixed the faulty hardware and added multiple layers of backup. To ensure the systems were fully functional today and customers do not suffer any further, as a precautionary measure with an abundance of caution, we blocked fresh intraday trading at 12 PM requesting users to square off their positions by 2 PM. There were no order placement issues today. We opened up MCX intraday after 3:30 PM. 

We understand some of you have faced losses during this turbulent period, and for what it’s worth we are extremely apologetic about this. We will reach out to each of you over the next few days. 

Let me end by saying, we’re not perfect. We are constantly working. We are working day in and day out. We are working round the clock only to ensure we can provide a seamless trading experience to you. I would like to personally thank those of you who stuck by us through all these challenges. And for those who’re upset with us, give us another chance to show you that Upstox is dedicated to serving the best trading experience, and nothing short of that.

Once again, we’re incredibly sorry for the inconvenience we have caused you. 

Sincerely,
Shrini Viswanath (Co-founder & CTO, Upstox)

Our regular margins will be applicable for all intraday orders today. All CO and OCO orders will be blocked for the day. Margins available today are as follows.

?Up to 8X margins on Intraday orders in EQ (for F&O-listed stocks only).
?Up to 3X margins on Intraday orders in Futures
?Up to 3X margins on Intraday orders in Currencies and Commodities (for Futures only).

On account of the Union Budget, these are our revised margins for 1st February only.

?Up to 5X margins on Intraday orders in EQ (for F&O-listed stocks only).

?Up to 2X margins on Intraday orders in Futures and Options (selling) only.

?Up to 2X margins on Intraday orders in Currencies and Commodities (for Futures only).

?All CO & OCO orders are blocked for the day.

Urja Global Limited credited existing shareholders’ Demat accounts with REs (Rights Entitlements) after it announced a Rights Issue on 11th Jan 2021.

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 Urja Global Limited shareholders?
Existing shareholders of Urja Global Limited company (as on record date 15th Jan’21) have three options -
1) They can use their REs to apply for more shares of Urja Global Limited (in proportion to their existing shares - 7 for every 71 shares held) at a price of Rs. 5 per share.
2) If they do not wish to apply for more shares, they can even trade their REs in the market.
3) Take no action and forfeit their rights, bringing the value of the REs to zero.

What dates should one keep in mind?
Last date to apply: 10th February 2021
If you’re interested in applying for the right shares, you can apply on or before this date.
Last trading date for RE  - 5th February 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.

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://rights.integratedindia.in/

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.

Read more about this RE by clicking here.

L&TFH | 533519 | INE498L01015

L&T Finance Holdings will issue rights to its existing shareholders. This means if you hold shares of this company as on record date, you can apply for more shares of the same company (in proportion to your existing shares - 17 for every 74 shares held) at a discounted price of Rs.65.

The record date for this issue is 22nd January 2021 and the subscription start date- 1st February 2021.

Changes in F&O contract
As a result of this corporate action, there will also be changes in the L&T Finance Holdings F&O contracts in the same ratio of 17:74 w.e.f from 21st January 2021.

What is changing?
Strike Price
Market Lot

To know more click- https://www1.nseindia.com/content/circulars/FAOP47052.pdf