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RInfra- Investor Relations - Shareholder Services - Odd Lots Shares Scheme
Odd Lots Shares Scheme
In view of the difficulty experienced by the shareholders of the Company in selling their odd lot shares on the stock market and to mitigate the hardships caused to them, the Company has framed a scheme for the purchase of odd lot equity shares at the prevailing market price. The scheme was made available to shareholders of the Company who hold shares in odd lots. The main objectives for which the Scheme was formulated are
- To afford an opportunity to odd lot shareholders to dispose off their odd lot shares.
- To reduce the number of odd lot shares and number of folios with a view to achieving reduction in investor servicing cost.
- The scheme would overcome the difficulties faced by the shareholders such as
- Absence of liquidity in odd lot shares
- Physical shares fetch discounted stock price and
- Cumbersome procedure and expenses involved in opening demat accounts for small holding of few shares.
Salient Features of the Odd Lots Share Scheme
|What is an Odd Lot||Odd Lot Shares means shares in a single Folio of 1 to 49 shares.|
|Objective||To provide facility to the existing shareholders of the Company to dispose of their shares held in odd lot i.e. less than the present marketable lot of 50 shares.|
|Duration||Up to March 31, 2013.|
|Eligibility||1 to 49 Shares with acceptance in full.|
|Administration||The Scheme will be administered by Trustees of Reliance Infrastructure Limited Odd Lot Shares Trust.|
|Applicability||The scheme is open to Indian Resident shareholders only holding physical shares in odd lot as of February 15, 2003 when the scheme was announced.|
|Payment||Within 15 days from receipt of duly completed Odd Lot Application form along with other documents.|
|Mode of payment||Payable at par in the name of First shareholder - Cheque or Demand Draft.|
|Availability of Forms||Karvy Computershare Private Limited.|
Further information / Clarification
Shri Praveen Chaturvedi
Karvy Compuershare Private Limited
Madhura Estate, Municipal No. 1-9/13/C
Plot No. 13 and 13C, Madhapur Village
Hyderabad 500 081
Telephone Nos. 91 40 44338100/40308000.
Fax No. 91 4023420859.
Website : www.karvy.com
Reliance Infrastructure Ltd.
Reliance Infrastructure Limited
H Block, 1st Floor
Dhirubhai Ambani Knowledge City
Navi Mumbai 400 710.