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Hindalco has a significant presence in the Indian industrial sector. However, shareholders sometimes encounter the problem of missing shares due to losing track of their holdings or misplacing them. When this happens, the shares are transferred to IEPF for management. This blog post will explain how shareholders can reclaim their lost Hindalco Industries Limited shares from the IEPF.
Hindalco Industries Limited, one of India’s leading manufacturers of aluminium and copper, was founded in 1958 and has become a key player in the Indian industrial sector. It is part of the Aditya Birla Group, one of India’s largest corporations, with a market valuation exceeding Rs 70,000 crore as of 2021. Shareholders of Hindalco Industries Limited sometimes face the issue of missing shares, which can happen due to losing track of their holdings or misplacing shares for various reasons. The shares are transferred to the IEPF, which manages them in such cases.
Hindalco has a rich growth history, with its price rising over 80% in the past five years, reflecting strong investor confidence. This growth is underpinned by robust finances, with revenue hitting Rs 224,459 Crore in 2023 and solid operating and net income. However, recent quarters have shown a decline in profits, emphasizing the cyclical nature of the metals industry.
In a filing to the BSE, Hindalco Industries reported a total profit of Rs 1362 crore for the October to December quarter of the last financial year. The company posted a combined profit of Rs 2205 crore in the July to September fiscal year. The revenue from operations for Hindalco’s subsidiary fell by 6.4% yearly, but its profit increased by 10.1 times. Below is the forecasted price of the shares from 2024 to 2030 in Hindalco Industries Ltd.
If an individual is looking to recover lost shares of Hindalco Industries Ltd. from IEPF Shares that have been transferred to the IEPF, then the individual needs to follow these steps to perform recovery of shares from IEPF:
The first step in recovering lost shares is to verify the shareholding and visit the official websites of the CDSL and NSDL, which manage electronic share records in India. Enter the demat account number PAN to view the holdings in Hindalco Industries Limited.
After confirming the shareholding, check the IEPF database to see if any shares have been transferred. Visit the IEPF website and enter the PAN number to search the database. If the shares are listed, the individual can proceed with the recovery process.
Recover lost shares of Hindalco Industries Ltd. from IEPF by gathering and collecting the required documents such as identity proof, PAN card, Demat account, bank details, etc.
Complete the IEPF Form, which can be downloaded from the IEPF website. To reclaim Hindalco Industries Ltd’s shares, the individual needs to enter their personal information, shareholding details, and bank information.
Submit the completed IEPF Form along with the collected necessary documents to the relevant authorities. The individual can submit the Form by visiting the IEPF website with the required documents,
After submitting the form and supporting documents, wait for the IEPF authority or company to complete the verification and approval process. Once the verification process is completed, the individual can claim their Hindalco Industries Ltd shares in their demat account or bank account directly.
In conclusion, reclaiming lost shares of Hindalco Industries Ltd. from IEPF is a structured process that involves verifying shareholdings, checking the IEPF database, gathering documents, etc. By following these steps accurately, shareholders can successfully regain control of their investments.
Shares are transferred to IEPF if they remain unclaimed for seven years due to loss of track of holdings or misplaced shares.
Individuals can view their shareholdings by visiting CDSL and NSDL's websites and entering their demat account number and PAN.
The necessary documents include the individual’s identity proof, address proof, shareholding proof and completed IEPF form.
The individual can download the IEPF from the official website of IEPF.
Individuals can check their shares by visiting the official IEPF website and searching the database using their PAN numbers.
Once approved, the individual can reclaim their shares, which will be credited to the demat or individual bank accounts.
The verification and approval process timeline may take several weeks, depending on the various situations.
The entire process can be initiated and tracked online through the IEPF official website.
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