Dematerialized Rights Entitlements enable tradable rights with T+2 settlement and mandatory ASBA subscription. SEBI streamlined rights issue procedures by introducing dematerialized Rights Entitlements (REs) with a separate ISIN credited to eligible shareholders before issue opening, enabling trading of REs on stock exchanges on a T+2 rolling settlement basis, mandating ASBA for applications, requiring physical shareholders to furnish demat details for credit of REs, and prescribing reconciled allotment, credit to demat accounts and bank unblocking procedures; unrenounced REs lapse and are extinguished post allotment.
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Provisions expressly mentioned in the judgment/order text.
Dematerialized Rights Entitlements enable tradable rights with T+2 settlement and mandatory ASBA subscription.
SEBI streamlined rights issue procedures by introducing dematerialized Rights Entitlements (REs) with a separate ISIN credited to eligible shareholders before issue opening, enabling trading of REs on stock exchanges on a T+2 rolling settlement basis, mandating ASBA for applications, requiring physical shareholders to furnish demat details for credit of REs, and prescribing reconciled allotment, credit to demat accounts and bank unblocking procedures; unrenounced REs lapse and are extinguished post allotment.
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