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demat account. He cannot sell or pledge any RGESS securities during the lock-in period, but can trade them after the lock-in period gets over. If a company goes for buyback of securities and the new retail investor exercises his option, it will considered as a sale transaction.
The scheme guidelines describe a new retail investor as one who has not opened a demat account and hasn’t made any transactions in the derivative segment before the date of opening of the demat account. Also, one who has opened a demat account, but has not made any transactions, qualifies as a new retail investor.
While making the initial investment of up to Rs 50,000, the total cost of acquisition of the securities will not include brokerage charges, securities transaction tax, stamp duty and service tax.