Thanks Dinesh. From what I understood, every shareholder as of record date gets a rights entitlement credited to his demat account. Now the shareholder can chose to subscribe to those entitlements by paying cash or let it expire. He/ she can also buy additional entitlements from the secondary market and then subscribe to it.
But my question is mainly what happens to those who let their rights entitlements expire? Those unsubscribed rights are entirely subscribed by promoters or is there anyway a retail shareholder can subscribe to those unsubscribed rights entitlements?
The reason I am asking this is in all likelihood, the ones who sell their rights entitlement on the exchange will do so at a premium to the subscription price given that there is a huge difference between the actual share price and the rights subscribtion price and there may not be a arbitrage opportunity to buy the rights at a premium.
Thanks a lot once again to the community for your helping hand 
~18% of the shares are held by DIIs and large investors, wonder how are they not objecting to this? Daylight robbery by promoters and not a single objection or voice of dissent on the concall.
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