Description

BSE announces trading in Rights Entitlements (REs) for renunciation of AVASARA FINANCE LIMITED from January 09, 2026 to January 14, 2026, with the Rights Issue opening from January 09, 2026 to January 19, 2026.

Summary

BSE has announced that trading in Rights Entitlements (REs) for renunciation of AVASARA FINANCE LIMITED will commence from Friday, January 09, 2026. The REs will be tradable for renunciation from January 09, 2026 to January 14, 2026, while the Rights Issue itself will remain open from January 09, 2026 to January 19, 2026. Trading will be conducted on a T+1 rolling settlement basis on a trade-for-trade basis in dematerialized form only.

Key Points

  • Rights Entitlements (REs) trading begins on January 09, 2026
  • Renunciation period: January 09, 2026 to January 14, 2026
  • Rights Issue open period: January 09, 2026 to January 19, 2026
  • Scrip Code: 751075, Scrip ID: AVASA-RE
  • ISIN: INE759D20017
  • Market Lot: 1, Group: R
  • Settlement: T+1 rolling settlement on trade-for-trade basis
  • Trading only in dematerialized form
  • REs not subscribed or renounced by issue closing date will lapse and be extinguished

Regulatory Changes

No regulatory changes introduced. This circular implements existing BSE 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

For Trading Members:

  • Inform all clients about the commencement of trading in REs, mentioning the ISIN (INE759D20017)
  • Clarify that REs should not be mistaken for ordinary shares of the company
  • Include a prominent disclaimer in contract notes/bills for RE purchases stating:
    • Purchase of REs only gives the right to participate in the ongoing Rights Issue by making an application with requisite money OR renounce the REs before issue closes
    • REs neither subscribed nor renounced on or before the Issue Closing Date will lapse and be extinguished
  • Refer to BSE notice no. 20200305-21 dated March 05, 2020 and notice no. 20200518-34 dated May 18, 2020 for additional details

For Investors:

  • REs must be held in dematerialized form for trading
  • Must either subscribe with requisite application money or renounce REs before January 19, 2026
  • Unexercised REs will be extinguished after the issue closing date

Important Dates

  • January 09, 2026: REs trading for renunciation begins; Rights Issue opens
  • January 14, 2026: Last day for REs renunciation trading
  • January 19, 2026: Rights Issue closes; last day to subscribe or renounce REs
  • Settlement: T+1 rolling settlement basis

Impact Assessment

Market Impact: Medium - Affects existing shareholders of AVASARA FINANCE LIMITED who wish to participate in the rights issue or trade their entitlements. The 6-day renunciation window (January 09-14) provides a limited timeframe for secondary market trading of REs.

Operational Impact: Trading members must ensure proper client communication and include mandatory disclaimers in contract notes. The trade-for-trade settlement and demat-only requirement necessitate specific operational handling.

Investor Impact: Shareholders must act within the defined timeframe to either subscribe, renounce, or trade their rights entitlements, otherwise they will forfeit the entitlements after January 19, 2026.

Impact Justification

Specific to AVASARA FINANCE LIMITED shareholders and traders. Important for those holding or interested in the company's rights issue, with a defined short trading window for renunciation.