REs are temporary Demat securities that represent your eligibility to participate in the rights issue. REs can now be traded on exchanges, and you can sell them the same way you sell equities from your portfolio.

These REs are not rights shares in and of themselves; they must be used in order to apply for rights shares. The REs will become useless if you do not sell them or use them to apply for rights.
Until the RE trading period begins, the REs credited to your Demat account will not be displayed in your Trading portals holdings.

The REs are settled on a trade-to-trade basis, therefore you won't be able to trade them intraday. The seller of the RE is charged STT of 0.05 percent of the RE's value