Ranbaxy Open Offer: Download Letter

For all those who have not received the Letter of Offer for the Ranbaxy Open offer at Rs. 737; you can download the letter of offer here.

Process:

• First go to your depository participant - typically an online account will have a DP linked to your broker - and file an "off-market" DP transfer to:

  Depository Name: NSDL
  DP Name : HSBC Limited
  DP ID Number: IN 300142
  Beneficiary Account Number: 10642118

  People who have their accounts with a DP linked to CDSL (rather than NSDL) must use an "inter depository" form to do this. Make a copy of the offmarket transfer form and the received acknowledgement.
• Fill out the form in the above download - NOT the withdrawal form, only the letter of acceptance, in full. Enter your DP Name, DP ID and your client ID, and the number of shares you wish to transfer. Take a copy for your records.
• Submit the form, and a copy of the DP Transfer acknowledgement to any of the Karvy centers listed in the letter of offer.

Note that if you have bought the shares in the last year, you will be charged short term capital gains tax at full rates (i.e. 33.99% at the highest slab). For shares held for more than a year, the rate is 20.6% (indexed) or 10.3% (non-indexed). Tax is not deducted at source, so you will be required to pay it yourself. The first date for individuals to file advance tax (and thus, save yourself of a penalty) is December 15 - so do pay up before that date.

You should receive the money after September 19, as a crossed cheque, by registered post. All unaccepted shares (only 1/3rd of the offered shares are likely to be accepted) will be transferred back to you on that date.

Of course, if you don't want this hassle you might as well sell in the open market today at the price of Rs. 512.

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This entry was posted on Tuesday, August 26th, 2008 at 6:29 AM and is filed under Ranbaxy. You can subscribe to any comments to this entry via RSS 2.0. You can leave a response, or trackback from your own site.