Description
NSE announces trading of Rights Entitlements for Patel Engineering Limited from December 12-16, 2025, with 147,580,213 REs available for renunciation in Trade to Trade segment.
Summary
NSE has admitted Rights Entitlements (REs) of Patel Engineering Limited for trading on the Capital Market segment. A total of 147,580,213 REs will be available for renunciation trading from December 12-16, 2025. The REs will trade under symbol PATELEG-RE (ISIN: INE244B20022) in the Trade to Trade segment with compulsory demat for all investors. Trading will be suspended on December 17, 2025.
Key Points
- Symbol: PATELEG-RE with ISIN INE244B20022
- Total Rights Entitlements: 147,580,213
- Trading Series: BE (Trade to Trade segment)
- Market Lot: 1
- Compulsory demat mode for all investors
- REs give right to participate in ongoing Rights Issue or renounce before issue closes
- Un-subscribed and un-renounced REs will lapse after Issue Closing Date
Regulatory Changes
No new regulatory changes. This circular implements existing regulations under:
- Regulation 3.1.1 of NSE (Capital Market) Trading Regulations Part A for admission of securities
- Regulation 2.5.5 of NSE (Capital Market) Trading Regulations Part A for lot sizes
Compliance Requirements
For Trading Members:
- Inform all clients about commencement of RE trading with correct ISIN
- Clarify that REs are not ordinary shares of the company
- 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 by Issue Closing Date will lapse and be extinguished
For Investors:
- REs must be held in demat form
- Trade REs during renunciation period or apply for Rights Issue with payment
- Understand that inaction leads to lapse of REs after Issue Closing Date
Important Dates
- December 10, 2025: Circular date
- December 12, 2025: Trading of REs commences (effective date)
- December 12-16, 2025: Renunciation trading period (5 trading days)
- December 17, 2025: Trading suspension date; Issue Closing Date
Impact Assessment
Market Impact: Medium - affects existing Patel Engineering shareholders and potential investors interested in the rights issue. Limited 5-day trading window requires quick decision-making.
Operational Impact: Trading members must ensure proper client communication and disclaimer compliance. The Trade to Trade segment classification means no intraday trading, only delivery-based transactions.
Investor Impact: Shareholders have opportunity to monetize their rights entitlements if not participating in the rights issue. Buyers can acquire rights at market-determined prices to participate in the issue. Critical to act within the trading window to avoid lapse of entitlements.
Impact Justification
Medium importance as it affects only Patel Engineering shareholders eligible for rights issue. Trading window is short (5 days) requiring timely action from interested investors.