How do I apply for the rights issue of Piramal Pharma Share RE

I want apply for the rights issue of Piramal Pharma (PPL) but I have no idea how to. Can follow stap by step explain the process.

Rights issue (RE)is when the company gives rights to its existing shareholders to purchase new shares of the company based on their previous or existing holding at a discounted price.

Date: PPL The REs will only be traded till 10-Aug-23. After the rights issue closes, the REs will be extinguished and removed from your holdings. In order to ensure that your REs don’t expire underutilized, you can either sell the REs till the last day of trading or you can apply for the rights shares by 16-Aug-23.

The subscription to the rights issue of Piramal opened on February 9th and closes on February 26th. The record date for determining the eligible shareholders was February 1st. The company is offering 1 share for every 23 shares held at a price of Rs 2378.

Process Offline Bank

The process of applying for a rights issue is through ASBA (Applications Supported by Blocked Amount). If your bank supports it, you can apply online just like an IPO.

If not then you would have received a courier of the Composite Application Form (CAF).

You will have to fill the form and submit it at a Self Certified Syndicate Banks (SCSBs) branch.

The details to be filled are

1. *Cheque/DD details (non ASBA)
2. Select ASBA and fill in the bank details
3. Your PAN number. If you have a joint account then fill in the PAN of the second holder.
4. Fill your DP details. You can find your DP ID and the Beneficiary number under the profile section of Q.
5. Select NSDL – if your DP starts with IN. Select CDSL if the DP ID is completely numeric.
6. 5) Your signature. Signatures if it is joint account.
7. Once done you can submit at any branch of a Self Certified Syndicate Banks (SCSBs). The list of banks can be found on the application from itself.

Process Bank Online

ASBA/Net Banking Process Supported Bank

Application form can be submitted in physical mode at bank branches or through net banking. Most large banks including Axis, HDFC Bank, ICICI Bank, SBI, Kotak Mahindra Bank have enabled application through net banking platforms. It is very similar to an IPO application.

1) Investors can visit their brokerage account online, go to the ASBA services option

2) Select the IPO/FPO/BUYBACK option that will show all the Rights issues available

3) Fill in the quantity you want to buy and submit the application

4) Check the terms and conditions box

5) Make sure you have sufficient funds to process the transaction

6) Process the transaction and check the order book

There is also a RTA (Registrar and Transfer Agent) website where you can submit your application.

It is not mandatory for the shareholder to apply for this. The company is giving them a choice to apply.