How Do I Apply for Rights Issue at ICICI Direct?

If you have opened an ICICI Direct account and wish to participate in the rights issue, then you can easily follow the steps from the ICICI online website. ICICI Direct provides simple and practical steps which are given below. 

Steps to Apply for the Rights Issue at ICICI Direct

How to Apply for the Rights Issue at ICICI Direct

Step 1: Start by logging in the ICICIdirect.com.

Step 2: Now, click on the “IPO” option, now scroll down, there you will find the”Rights” option, click on it.

Step 3: Select the stock you wish to apply, click on it, and then click on the ” apply” option.

Step 4: Fill in the number of shares you want to buy and hit “Submit.”

Before applying for the rights issue, make sure to do your research to arrive at an informed decision. You can do this on our app. Check the company’s financials, facts, figures, and ratios. Remember that investments in the securities market are subject to market risks. Read all related documents carefully before investing.

Applying for the Rights Issue in the ASBA/Net Banking Process

Applying for a rights issue through ASBA/Net Banking is simple. You can submit your application in person at a bank location or online using a net banking platform. Many large banks, including Axis, HDFC Bank, ICICI Bank, SBI, and Kotak Mahindra Bank, accept applications via their online banking services, which follow the procedure for applying for an IPO.

Below are the steps to apply for a rights issue through ASBA/Net Banking:

Step 1: Log into your brokerage account online and go to the ASBA services area.

Step 2: Select the IPO/FPO/BUYBACK option to see all available rights offerings.

Step 3: Enter the number of shares you want to buy and submit your application.

Step 4: Check the applicable box to indicate that you agree to the terms and conditions.

Step 5: Ensure that you have enough money in your account to execute the transaction.

Step 6: Complete the transaction and review your order in the order book.

In addition, you may submit your application for the rights issue through the Registrar and Transfer Agent’s website.

Applying for the Rights Issue in RTA

RTAs in India include CAMS and KFin Technologies Limited. Below is the example of KFin Technologies Limited to demonstrate the method.

Step 1: Go to the KFin Technologies Limited RTA website (https://rights.kfintech.com/). You will only have the opportunity to apply if the rights issue is open.

In this case, the “Apply for Rights Issue” option will be activated upon opening. But first, click on “email and mobile registration”.

Step 2: Determine if you have actual shares or the depository with which you have an account.

Step 3: Enter basic information such as DP ID, customer ID, and Captcha, and click Submit.

Step 4: On the following screen, enter your email address and cellphone number.

Registering your mobile number and email address will make sure that you receive all the allocation information.

If you already have a Demat account but still own RIL shares in physical form, Follow the below steps to register your Demat Account Number Information for the rights issue.

Step 1: Navigate to the next tab, “Demat Account Number Information Registration.”

Step 2: Follow the instructions that appear on the screen.

Step 3: When you are ready to proceed, click “Proceed”.

Step 4: Enter your PAN number, Demat account number, and other needed information when requested.

Step 5: Once you have completed the registration procedure, you will be ready to register for the rights issue when it becomes available on May 20. You may pay for your order using either UPI or NEFT.