EQUITY SHARES OF RELIANCE NAVAL NOT SEEN IN DEMAT ACC

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I had 150 shares of reliance Naval and defence in my demat account. It is no longer seen. I reliased it now. 

Replies (3)
Quick Summary
If your Reliance Naval and Defence (RNEL) shares are no longer visible in your demat account, it's likely due to the acquisition by Swan Energy Limited. RNEL was renamed Swan Defence and Heavy Industries Limited, with a conversion ratio of 1 new share for every 275 old shares. As you held 150 shares, this fell below the threshold for receiving a full new share, meaning your original RNEL shares were extinguished.

Swan Energy Limited acquired RNEL through a resolution plan.

Following the acquisition, Reliance Naval and Engineering Limited was officially renamed Swan Defence and Heavy Industries Limited.

1 equity share of Swan Defence and Heavy Industries was issued for every 275 equity shares held by existing shareholders of RNEL.

Since you had 150 shares, and the conversion ratio was 1:275, you would not have received any full shares of Swan Defence and Heavy Industries. Your shares would have been extinguished. Fractional shares were generally managed according to legal provisions, often meaning they were held in trust or the value was adjusted.

thanks Rambhia sahab

 

You are welcome.       

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