Description
Trading in Rights Entitlements (REs) for renunciation of Patel Engineering Limited commences from December 12, 2025 to December 16, 2025, with the Rights Issue open from December 12 to December 19, 2025.
Summary
BSE has announced the commencement of trading in Rights Entitlements (REs) for renunciation of Patel Engineering Limited shares. Trading will be permitted from December 12, 2025 to December 16, 2025, while the Rights Issue itself will remain open from December 12, 2025 to December 19, 2025. The REs will be settled on T+1 Rolling Settlement basis and traded in dematerialized form only on a trade-for-trade basis.
Key Points
- Rights Entitlements trading permitted from December 12, 2025 to December 16, 2025
- Scrip Code: 751065, Scrip ID: PATELEG-RE, ISIN: INE244B20022
- Market Lot: 1, Group: R
- Settlement on T+1 Rolling Settlement basis
- Trade-for-trade settlement only
- REs tradable in dematerialized form only
- Rights Issue open period: December 12, 2025 to December 19, 2025
- Unsubscribed or non-renounced REs will lapse after Issue Closing Date
Regulatory Changes
No new regulatory changes introduced. This circular follows existing framework for Rights Entitlements trading as outlined in previous notices dated March 05, 2020 (notice no. 20200305-21) and May 18, 2020 (notice no. 20200518-34).
Compliance Requirements
For Trading Members:
- Inform all clients about commencement of RE trading and the specific ISIN (INE244B20022)
- Clarify to clients that REs should not be mistaken for ordinary shares
- Include prominent disclaimer in contract notes/bills for RE purchases stating:
- Purchase of REs only gives right to participate in Rights Issue by applying with requisite money OR renounce before issue closes
- REs neither subscribed nor renounced will lapse and be extinguished after Issue Closing Date
- Refer to notice no. 20200305-21 (March 05, 2020) and notice no. 20200518-34 (May 18, 2020) for further details
For Investors:
- REs must be held in demat form for trading
- Must either apply with requisite application money or renounce REs before December 19, 2025
Important Dates
- December 12, 2025 (Friday): RE trading for renunciation begins; Rights Issue opens
- December 16, 2025 (Tuesday): RE trading for renunciation ends
- December 19, 2025: Rights Issue closes; last date to subscribe or renounce REs
- After December 19, 2025: Unsubscribed/non-renounced REs will lapse and be extinguished
Impact Assessment
Market Impact: Medium - Affects existing shareholders of Patel Engineering Limited who hold Rights Entitlements and wish to either participate in the rights issue or trade their renunciation rights.
Operational Impact: Standard rights issue procedure requiring broker compliance with disclosure requirements. The short 5-day trading window for renunciation requires timely communication to clients. T+1 settlement and trade-for-trade basis ensures proper settlement but may limit liquidity.
Investor Impact: Shareholders must act within the specified timeframe to either subscribe, renounce, or trade their rights entitlements. Failure to act will result in lapse of entitlements with no compensation after the issue closing date.
Impact Justification
Standard rights issue procedure affecting existing shareholders of Patel Engineering Limited with specific trading window for renunciation