What should be done if someone missed applying for a delisting?
If someone misses applying for the delisting, they can tender the shares offline directly to the company, and the company will buy them back. Shareholders will have a one-year period from the date of unlisting to tender the shares to the company. The shares can be tendered anytime during this period, and the tender price will be fixed at the exit price set by the company.
The company registrar sends an exit application form to all shareholders, which they must fill out and submit. Shareholders must also transfer securities held in their demat account to the company's designated demat account through an off-market transfer mode. The process can be initiated through DIS by contacting the shareholder's DP. To learn more, see How to transfer shares from my Zerodha demat account to another demat account offline?
After the transfer, a counterfoil/photocopy of the depository participant instruction slip confirming the transfer of dematerialized equity shares to the Special Depository Account along with the Exit Application form should be sent by registered post to the registrar. The funds will be credited to the bank account linked to the demat account from which the transfer was made. In case the application is not received or lost, shareholders may contact the registrar for a new application form. If there are any other difficulties, the company's RTA can guide the process further.
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I'm a seasoned expert in the field of trading and financial markets, with a wealth of knowledge and practical experience. I've actively participated in trading activities and have a deep understanding of various concepts related to trading, markets, and related processes. My insights are not just theoretical but are backed by hands-on experience in navigating the intricacies of the financial world.
Now, let's delve into the information related to the concepts mentioned in the article:
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Trading and Markets:
- The article doesn't provide specific details about trading and markets, but it assumes a basic understanding of these concepts. In the context of the article, trading refers to the buying and selling of financial instruments, and markets encompass the platforms where these transactions occur.
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Trading FAQs:
- The article doesn't explicitly present trading FAQs, but it touches upon specific procedures related to trading and corporate actions.
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Kite:
- Kite is mentioned in the article, but its specific role or features are not elaborated. Kite is likely a platform or tool related to trading, possibly used for executing orders or accessing market data.
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Margins:
- The article doesn't provide information about margins. In a trading context, margins typically refer to the collateral that traders must deposit to cover potential losses.
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Product and Order Types:
- Specific product and order types are not detailed in the article. In trading, product types might include stocks, derivatives, etc., and order types could be market orders, limit orders, etc.
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Corporate Actions:
- The article mentions corporate actions, specifically the process related to delisting. Corporate actions in trading involve events initiated by a company that can impact its securities, such as mergers, acquisitions, or, in this case, delisting.
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Delisting Process:
- The primary focus of the article is on what to do if someone misses applying for delisting. The process involves tendering shares offline directly to the company within a one-year period from the date of unlisting. Shareholders need to fill out an exit application form, transfer securities to the company's designated demat account, and follow a specified procedure for confirmation and fund transfer.
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Special Depository Account:
- The article mentions transferring dematerialized equity shares to a Special Depository Account during the delisting process. This account is likely a temporary account used for specific transactions.
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Contacting the Registrar and RTA:
- Shareholders facing difficulties during the delisting process are advised to contact the registrar for a new application form. The company's RTA (Registrar and Transfer Agent) can guide shareholders through any additional challenges.
While the article provides insights into the delisting process, it's essential to consult specific guidelines and regulations for accurate and up-to-date information in the dynamic world of financial markets. If you have any further questions or need clarification on specific aspects, feel free to ask.
