SRU Steels rights issue

As per the ratio of 4:1, the issue price of the shares under SRU Steels’s right issue on the record date of 31-08-2024 is 0 per equity share.

You can apply for SRU Steels’s right issue online if your bank supports the Applications Supported by Blocked Amount (ASBA) process.
For offline, SRU Steels’s Registrar and Transfer Agent (RTA) sends the Composite Application Form (CAF) to each shareholder entitled to receive the Rights Issue. Fill out and submit the form to a Self-Certified Syndicate Bank (SCSB) branch (WEB).
Alternatively, you can use your bank account sharing the same PAN number as your Choice Demat account to apply for SRU Steels's rights issue.

The record date for SRU Steels rights issue 2024 is 31-08-2024

The last day to apply for SRU Steels’s rights issue is 30-08-2024. This date typically falls within a period of 15 to 30 days, from the Rights Issue Opening Date, which in this case is 11-06-2024.

Yes, subscribing to SRU Steels’s right issue has certain tax implications:

1. Subscription: There’s no immediate tax liability. The cost of acquisition is the subscription price plus transaction charges.
2. Capital Gains on Sale:
   • Short-Term: Gains from shares sold within 12 months are taxed at 20%.
   • Long-Term: Gains from shares held over 12 months are taxed at 12.5% (exceeding ₹1.25 lakh annually).
3. Renunciation:
   • Selling rights entitlement attracts capital gains tax.
   • Gifted rights have no immediate tax but may impact the recipient later.
4. Dividend Income: Taxed at the shareholder's applicable slab rate.

You may consult a tax professional or review the latest tax laws for specific advice.