Description
BSE announces commencement of trading in Rights Entitlements (REs) for renunciation of TITAN INTECH LIMITED from November 10-14, 2025, with Rights Issue opening November 10-19, 2025.
Summary
BSE has announced the commencement of trading in Rights Entitlements (REs) for renunciation of TITAN INTECH LIMITED starting November 10, 2025. The Rights Entitlements will be tradable for five days from November 10-14, 2025, while the actual Rights Issue will remain open from November 10-19, 2025. Trading will be conducted on T+1 rolling settlement basis in dematerialized form only, with trade-for-trade settlement.
Key Points
- Rights Entitlements trading permitted from Monday, November 10, 2025 to Friday, November 14, 2025
- Scrip Code: 751053, Scrip ID: TITANI-RE, ISIN: INE807M20015
- Market Lot: 1, Group: R
- Rights Issue opening period: November 10, 2025 to November 19, 2025
- Settlement on T+1 Rolling Settlement basis with trade-for-trade execution
- Trading allowed in dematerialized form only
- Unsubscribed or unrenounced REs will lapse after Issue Closing Date
Regulatory Changes
No new regulatory changes introduced. This circular implements existing framework for Rights Entitlements trading as per previous notices dated March 05, 2020 (notice no. 20200305-21) and May 18, 2020 (notice no. 20200518-34).
Compliance Requirements
- Trading Members must inform all clients about commencement of RE trading, mentioning the ISIN (INE807M20015)
- Contract notes/bills containing RE purchases must include prominent disclaimer explaining that:
- Purchase of REs only grants right to participate in ongoing Rights Issue by making application with requisite money, or to renounce the REs
- REs must not be mistaken for ordinary shares of the company
- REs that are neither subscribed nor renounced before Issue Closing Date will lapse and be extinguished
- Trading Members should refer to previous circulars for additional procedural details
Important Dates
- November 6, 2025: Notice date
- November 10, 2025: Commencement of RE trading and Rights Issue opening
- November 14, 2025: Last day for RE renunciation trading
- November 19, 2025: Rights Issue closing date
- REs will be extinguished after November 19, 2025 if not subscribed or renounced
Impact Assessment
Market Impact: Limited to existing shareholders of TITAN INTECH LIMITED who hold Rights Entitlements. The five-day trading window provides liquidity for shareholders who wish to renounce their rights rather than subscribe to the issue.
Operational Impact: Trading Members must ensure proper client communication and include mandatory disclaimers in contract notes. The T+1 settlement and trade-for-trade basis requires appropriate back-office handling. Dematerialization requirement means physical certificates cannot be traded.
Investor Impact: Shareholders must decide between three options before November 19, 2025: (1) subscribe to rights issue with application money, (2) trade/renounce REs during November 10-14 window, or (3) allow REs to lapse. The separate ISIN (INE807M20015) distinguishes REs from ordinary equity shares.
Impact Justification
Medium importance as it affects only shareholders of TITAN INTECH LIMITED. Medium impact limited to those participating in the rights issue with specific trading window and settlement requirements.