GACM Technologies has made a public announcement regarding a Rights Issue consisting of 340287057 equity shares, with a total value of up to Rs. 34.03 crores. The subscription for the rights issue will be open from 31 July 2024 to 14 August 2024.
| Timeline of the Right Issue of GACM Technologies: | |
|---|---|
| Record Date | 16 July 2024 |
| RE Trading Start Date | 31 July 2024 |
| RE Trading Last Date | 8 August 2024 |
| Rights Issue Subscription Opening Date | 31 July 2024 |
| Rights Issue Subscription Closing Date | 14 August 2024 |
The detailed announcement by the company can be found here.
###1. What is the ratio of the Rights Issue of GACM Technologies?
The Rights Issue has been set at a ratio of 1:1. This implies that for every 1 share(s) of GACM Technologies held by a shareholder, they will be entitled to receive 1 Rights Entitlements (REs)
###2. Who will be eligible to receive the Rights Entitlements (REs) of GACM Technologies?
Investors who possess shares of GACM Technologies as on 16 July 2024 (Record Date) will be eligible to receive Rights Entitlements (REs).
###3. How can we check if the Rights Entitlements (REs) of GACM Technologies have been credited in the Demat account?
Rights Entitlements (REs) are generally credited to the Demat account before the opening date of the issue. You will receive a notification from CDSL (via email and SMS) when Rights Entitlements (REs) of GACM Technologies gets credited to your Demat account.
###4. Will Rights Entitlements (REs) of GACM Technologies be tradable on the exchange?
The Rights Entitlements (REs) of GACM Technologies will be tradable on the stock exchanges for a limited period and will then be extinguished. During that trading period, you can either sell off your allotted Rights Entitlements (REs) or even you can purchase more Rights Entitlements (REs) in case you want to participate in the Rights Issue.
###5. What will happen to the Rights Entitlements (REs) of GACM Technologies after closure of the trading window?
Trading in Rights Entitlements (REs) of GACM Technologies is allowed only for a specific period (referred to as the trading window) on the stock exchange(s). Once the trading is suspended, one can renounce their rights only through off-market renunciation. Eligible Shareholders are requested to ensure that renunciation through off-market transfer is completed in such a manner that the Rights Entitlements (REs) are credited to the demat account of the Transferee on or prior to the Issue Closing Date.
###6. Will Rights Entitlements (REs) be converted to actual shares of GACM Technologies?
No. Using the Rights Entitlements (REs) you must apply for the shares under Rights Issue by paying a price of Rs. 1 to the company.
###7. How to apply for the Rights Issue of GACM Technologies?
Once you either receive the Rights Entitlements (REs) from the company or purchased them from the market, you can apply for the rights shares using the below methods:
- Online ASBA (Applications Supported by Blocked Amount). If your bank supports it, like an online IPO application.
- Online RWAP facility provided by the company RTA.
- Offline (physical ASBA) if your bank does not support online ASBA. For this, you would need to fill out an application form which you would have received from the RTA (Registrar and Transfer Agent) of the company via email/courier/speed post. You will have to fill out the form and submit it at a Self-Certified Syndicate Banks (SCSBs) branch.
###8. What happens if Rights Entitlements (REs) are not renounced or even used for applying Rights Issue?
If you do not renounce or use the Rights Entitlements (REs) to apply for the rights issue, your Rights Entitlements (REs) will expire worthless.
You can read more on Rights Issue and Rights Entitlements (REs) here.
What do you think about this Rights Issue? Feel free to use this thread to discuss.