Let me tell this with an example
Suppose on record date you have 10 shares of rswm at 355
Tomorrow it will open at 227.5 ( theoretical ex right issue price) TERP
(But it always depends on Market fluctuations. It opened at 223.65 and now 202)
Now ratio being 1:1 , you get 10 share at 100 rupees.
So you get breakeven, if the Price stays at 227.5 and you are able sell the original share you are entitled at that price
Now for extra allotment
If you apply for extra shares get 2x allotment ( 1x -original, 1x – extra)
So 20 shares at 100 which you can sell at current market price.
And that extra allotment 10 shares will give you the profit.
I feel the chance of allotment is good because promoter holding is around 50 and shareholding less that 2 lakh is around some 25 percent.
And yes there is always a market risk. If the current market price goes below the TERP price, you get loss on the original entitled shares
And below the issue price for extra alloted shares.
You must sell that share after the record date so that you can reduce the market risk and free money to apply for extra share
Disclosure: invested 35 percent of portfolio.
Was able to sell only 1/3 of position at 223.65.
Trying to sell the remaining 
Checkout
https://twitter.com/CaJainankur/status/1602338658941825024?s=20&t=uJKg1a8QCGcvS6qy1nOPFQ
This see the pinned thread of this guy
Thursday is the record date for quint. Attractive discount to cmp. Tomorrow is the last date (T+1)
But overvalued in my opinion.
Feel free ask if you don’t understand. I will try to explain better
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