UpdateVikas Ecotech will be making the first and final call payment for the partly-paid shares. The company has fixed February 4, 2022, as the record date to determine the shareholders of partly-paid shares to whom the final call notice would be sent. You can check the announcement from the company here.
As a result, the partly-paid shares of Vikas Vikas Ecotech (VECOPP) will be suspended from trading on exchanges with effect from February 3, 2022, and you will not be able to see these holdings on Kite.
|Payment||₹ 0.8 per share|
|Call Payment Period||February 10, 2022 to February 24, 2022|
|Allotment & Listing||Within 2 to 3 weeks from the last date of payment|
How do I make the call payment
You can make call payment through the following modes:
- Netbanking ASBA: Through the website of the SCSB’s.
- Physical ASBA: By submitting a physical application to the Designated Branch of SCSB’s.
- Check / Demand Draft.
You can check the list of SCSB (Self Certified Syndicate Banks) here.
For more details, you can refer to the First and Final Call notice submitted by the company, and this FAQ.
What will happen if I don’t make the call payment?
If you fail to pay the call money the partly paid shares may be forfeited (the current Vikas Ecotech PP you hold will be worthless and will not trade on exchanges as the company will allot new shares under different ISIN). The company may also levy interest on the amount you owe.
Vikas EcoTech Ltd. (VIKASECO) will issue Right Entitlements (RE’s) to anyone who holds its shares as of November 25, 2021 (record date). These RE’s will be temporarily traded on the stock exchanges and will then be extinguished. You can either use the RE’s to apply for the rights shares of Vikas EcoTech or you can sell them in the market. You can check the announcement from the company here.
|Ex-Date||November 24, 2021|
|Record Date||November 25, 2021|
|RE Trading Symbol||VECO-RE1|
|Issue Period||December 7, 2021 to December 21, 2021|
|RE Trading Period||December 7, 2021 to December 15, 2021|
|Tentative Date of Allotment||December 30, 2021|
|Tentative Date of Listing||January 10, 2022|
This is a partly-paid issue, meaning at the time of application you only have to make part payment.
|Amount payable per equity share||Face Value||Premium||Total|
If you continue holding partly-paid shares of Vikas EcoTech when the company makes a call for the balance payment, you will be liable to pay the balance sum. Alternatively, if you sell the partly-paid shares, the buyer will be liable to pay the sum.
Once you either receive the RE’s from the company or purchase it from the market, you can apply for the rights using Netbanking ASBA. You can check the process in this post.
You can also apply for rights shares through the website of the Registrar and Transfer agent. The website might not be fully like until issue opens for subscription.
You will need to enter your demat account’s Beneficiary Owner ID which is a 16-digit number while applying through Netbanking ASBA.
Note: If you have bought the REs from the secondary market. You will not be able to apply for rights shares from the RTA’s portal. You will have to make an application either through Netbanking ASBA service provided by your bank, you can check out the process here. In case your bank isn’t offering the option for application, you will have to make a plain paper application. You can download the application form here. The process for submitting the form has been explained on the form itself.
If you face any difficulties in applying for the rights shares, you can reach out to the RTA, Bigshare Services at [email protected] or at +91 22 6263 8200.