What should I do with my Patni shares after PATNI got delisted on 28th May 2012?

POSTED BY Priyanka Sharma ON January 29, 2013 11:47 pm COMMENTS (11)

11 replies on this article “What should I do with my Patni shares after PATNI got delisted on 28th May 2012?”

  1. Gaurav Kandpal says:

    Hi Priyanka, I called up ICICI and they asked me to call up Karvy. I am not sure of the process. Can you please let me know what’s the process for that? If possible, can you please send the form to my email id: grv_k@ymail.com.

  2. Priyanka Sharma says:

    Hi Gaurav,

    As mentioned earlier I couldn’t find a way to attach Patni Exit Offer form here.

    I have curently applied for TFID booklet from ICICI Direct. It would take another 7 days to come. Then with the offer form and TFID slip, I need to courier it to Karvy office (ICICI direct people will help me with it).

    A person for this forum mailed me for same problem, and he got his money back within a month so I am hopeful too.

    Anyways we need to act before 27th May 2013.

    1. kapilmk says:

      They have merged and provided almost 1/5th number of shares [ with Fv of Rs 10] somewhere in Jul 2013. Please check your demat balance and the same would reflect there.

      I had few shares in my demate a/c and for which this has occurred. However i don’t see the IGate new shares listed on any of the exchanges yet – so do not know how to sale those newly credited shares ?

  3. Gaurav Kandpal says:

    Hi Priyanka, I am in the same boat as yours. Can you please send me the form ASAP?

  4. Priyanka Sharma says:

    I got an offer form for Patni shares from Karvy. I don’t see place to attach that in this forum.
    Hope if someone needs can ask for help 🙂

    Thanks,
    Priyanka

  5. Dear Priyanka, please contact your broker as well as registrar of Patni. At the same time, please ask some of your friend or relatives in India to contact any local broker for this sell thing.

    Thanks

    Ashal

  6. Priyanka Sharma says:

    Thanks Everyone!
    My only problem is I am not in India and am not aware of any such broker who could deal in delisted shares.

    The de-listing price for Patni share is 520 till 27th May 2013.

    If I make a visit before this timeline I am still not sure whom/where should I go for help. Should I go to ICICI Direct people , go to Patni Pune office , go to registrars Karvy Computershare Pvt Ltd?

    http://www.indiainfoline.com/Markets/Company/Patni-Computer-Systems-Ltd/532517

    There is no info avaiable on internet as where/what shareholder do.

    Thanks,
    Priyanka

  7. Dear Sunil, I do hope that the reply given by Anand Doctor is enough to quench your thirst. 🙂

    Thanks

    Ashal

  8. Anand Doctor says:

    Dear Sunil,

    There are some long term investors in the market who want to hold such shares. Brokers can find them for you. What also happens many times is that the broker will himself buy and resell such shares later.

    Why?
    It actually becomes more lucrative for the broker than regular business, as the price offered is often at a steep discount to the fair value. Also, the brokerage charged tends to be higher.

    The broker can aggregate smaller holdings from a large number of sellers at a discount and then offer the total quantity for purchase at higher valuation.

  9. sunil says:

    Dear Ashal,

    Out of curiosity, why would any broker deal with delisted shares? how do they sell them and make money, since the daily price movements are not there. Wouldn’t he be in loss?

  10. Dear Priyanka, you can sell your shares to a person or broker who deals in delisted shares.

    Thanks

    Ashal

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