How Do I Apply for Rights Issue at ICICI Direct?
If you wish to purchase additional shares of a company at a discounted price, you can apply for the rights issue of that company. Following the steps below, you can apply for a rights issue using your ICICI account or opt for the offline process.
Steps to Apply for Rights Issue With ICICI Direct (Online)
Follow the steps below to acquire a company’s share online at a discounted price with your ICICI account.
| Steps | Description |
| 1 | Log in to the ICICI Direct website |
| 2 | Click on the ‘IPO’ tab |
| 3 | Tap on the ‘Rights Issue’ option |
| 4 | Select the stock and fill in the required details |
| 5 | Complete the payment process and click on ‘Submit’ |
Detailed Steps for Applying Online for a Rights Issue with ICICI Direct
Step 1: Using your credentials, log in to your ICICI account by visiting ICICI Direct.com.
Step 2: In the top right section of the website, you’ll come across a tab called ‘IPO’. Click on it.
Step 3: In the ‘IPO’ tab, scroll down to the ‘Rights Issue’ tab. Here you’ll come across stocks for which you are eligible to apply for the rights issue.
Step 4: Select the stock whose rights issue you wish to participate in. Fill in the application form with the right details.
Step 5: Complete the payment process and submit your rights issue application.
Steps to Offline Application of a Rights Issue With ICICI
You can refer to the steps below to apply offline for the rights issue with ICICI Direct
| Steps | Description |
| 1 | Visit the BSE Website and click on the stock |
| 2 | Download the ASBA form |
| 3 | Fill in the required details |
| 4 | Submit the form to the nearest branch |
| 5 | Maintain sufficient funds |
Detailed Steps for Offline Application of a Rights Issue With ICICI
Step 1: On the BSE Website (https://www.bseindia.com/publicissue.html), select the stock you wish to apply rights issue for. You will then be redirected to the page of that stock.
Step 2: On this page, you’ll come across a form called the ASBA (Application Supported by Blocked Amount) form. Download the form.
Step 3: Fill in all the required information. Most of the information would be about your bank account number, PAN number, and Demat account.
Step 4: Once you fill up the form, after this step, submit the completed form to the closest Self-Certified Syndicate Bank (SCSB) branch. Among other banks, ICICI Bank is also a Self-Certified Syndicate Bank. Visiting the home branch is not necessary. You can visit any branch of the bank of your choice.
Step 5: It is very important to maintain a certain amount of funds in your bank account for the application to proceed.
Whether you choose the online route via ICICI Direct.com or the offline ASBA method, applying for a rights issue through ICICI Direct is a straightforward process. To avoid application rejection, it is necessary to provide correct details and have sufficient funds in your account.