Last Updated: Mar 19, 2024 Value Broking 3 Mins 1.8K

Angel One, one of the prominent stockbrokers in India, provides its customers with the opportunity to participate in various investment offerings, including rights issues. A rights issue allows existing company shareholders to purchase additional shares at a discounted price, enabling them to increase their stake in the company. If you are an Angel One customer interested in applying for a rights issue, here is a step-by-step guide to help you through the process.

Step 1: Accessing Your Angel One Account

Log in to your trading account to apply for a rights issue through Angel One. Visit the official website or launch your device’s Angel One mobile application. Enter your login credentials (username and password) to access your account.

Step 2: Checking for Eligibility

Once logged in, check if you can participate in the rights issue. The eligibility criteria may vary based on the terms set by the company issuing the rights shares. Ensure that you meet all the requirements before proceeding with the application.

Step 3: Navigating to the Rights Issue Section

After confirming your eligibility, navigate to the rights issue section on the Angel One platform. You can usually find this section under the ‘Investment Offerings’ or ‘Corporate Actions’ tab.

Step 4: Selecting the Rights Issue

You will see a list of available rights issues in the rights issue section. Look for the specific rights issue of the company you are interested in (e.g., Reliance Group). Click on the rights issue to access more details and proceed with the application.

Step 5: Filling the Application Form

You must fill out the application form to apply for the rights issue. The form may require information such as:

  • Your Demat Account details (NSDL or CDSL)
  • PAN Number (and the PAN number of the joint account holder, if applicable)
  • Number of rights shares you wish to apply for
  • Bank details (for non-ASBA applications, if required)
  • Signature (in case of a joint account, both parties signatures may be necessary)

Step 6: Verifying the Application

Before finalizing your application, review all the details you have provided in the application form. Ensure that the information is accurate and up-to-date.

Step 7: Submitting the Application

Once you have verified the application, you can proceed to submit it. If Angel One supports the ASBA facility, you can apply online through the platform itself. If not, you will receive a Composite Application Form (CAF) from the company’s Registrar and Transfer Agent (RTA). Submit the filled CAF at a Self-Certified Syndicate Bank (SCSB) branch.

Step 8: Payment

If you use the ASBA facility, the amount required for the rights issue will be blocked in your bank account until the allotment process is completed. For non-ASBA applications, you will need to make the payment through a cheque or demand draft.

Step 9: Wait for Allotment

After submitting your application and making the payment, you must wait for the rights shares’ allotment process to be completed. Once the process is finalized, the allotted shares will be credited to your Demat account.

However, always conduct thorough research and consult financial experts before making investment decisions.