Grievance backlog cleared in 48 hours. Issue closed on schedule. Zero SEBI escalations.

The company was midway through a rights issue under SEBI ICDR Regulations when it became clear that their existing RTA had fallen significantly behind on shareholder communication obligations. Entitlement letters had not reached a material number of shareholders within the required timeline, and an investor grievance backlog had accumulated — with shareholders unable to obtain confirmation of their entitlements.

With the rights issue open period running and SEBI's timeline non-negotiable, the company's Company Secretary faced a difficult situation: continue with an RTA that was visibly failing, or take the disruption of mid-process transfer to an RTA capable of executing the remainder of the process correctly.

The CS team engaged RCMC after being referred by their legal counsel. The requirement was specific: clear the grievance backlog immediately, manage the remaining offer period, and bring the allotment and refund process to a clean, SEBI-compliant close.

RCMC took over the rights issue registrar mandate within 24 hours of engagement. The first priority was triage: auditing the grievance backlog, categorising outstanding investor queries by type and urgency, and beginning systematic resolution. All outstanding shareholder queries were acknowledged and resolved within 48 hours of RCMC assuming the mandate.

In parallel, RCMC coordinated with the company's bankers and the stock exchanges to ensure the remainder of the offer period could proceed without further delay. Shareholder communication for the remaining offer period was managed by RCMC — including outreach to shareholders who had not received or acknowledged their entitlement letters.

At offer close, RCMC prepared the basis of allotment, coordinated ASBA and R-WAP reconciliation, and dispatched refunds within the SEBI-mandated timeline. Post-issue compliance filings were completed with the exchanges and SEBI without exception.

The rights issue was completed within the SEBI ICDR timeline — despite the mid-process disruption. No SEBI escalations arose from the grievance backlog. All allotments were credited and refunds dispatched within the required window.

Following the successful completion of the rights issue, the company's CS team engaged RCMC as their ongoing RTA — transferring the full registrar mandate to RCMC after experiencing the difference in response standards.