If you check the today's trading, you will be able to see someone has brought 90,000 CTHR.R0000 for one rupee each
When the N share is trading around 207 to 210, they may feel 1 rupee is quite cheap.
But the payment date for the rights are 24th May, that means next tuesday. for an example for this person, he has to pay 90,000 * 210 = 18,900,000 (19 million) if he wants to convert this rights.
And why anyone wants to buy rights for 1 rupee and convert it with 210, when you can buy them around 207 in the market?