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The Investor Education and Protection Fund (IEPF) is an important initiative of the Government of India aimed at protecting investors’ interests through the management of unclaimed shares.
If you are a shareholder of HCL Technologies Limited and your shares have gone unclaimed for seven years or more, they may have been transferred to the IEPF. HCL Technologies Limited has made extraordinary growth within less than two decades of its establishment. Its share price has increased from Rs. 75 in the year 2000 to Rs.1579.90 in the year 2024, portraying an incredible growth that highlights the need to tackle unclaimed shares that might have fallen dormant and overdue in your account.
Keep reading till the end of the article to cover the growth of HCL Technologies, the recovery process of your unclaimed shares of HCL lying in the IEPF, the causes of why it finds its way there, and the significance of reclaiming the unclaimed shares.
HCL Technologies, with its share price rising from Rs. 75 per share in 2000 to over Rs. 1,579.90 per share on July 22, 2024, has delivered a remarkable return to its investors.
Investment Breakdown:
Stock Split on Nov 27, 2004 (1:1):
New Total Shares: 200 * 2 = 400
Bonus Shares on Mar 15, 2007 (1:1):
New Total Shares: 400 * 2 = 800
Bonus Shares on Mar 19, 2015 (1:1):
New Total Shares: 800 * 2 = 1,600
Bonus Shares on Dec 5, 2019 (1:1):
New Total Shares: 1,600 * 2 = 3,200
Current Price per Share: Rs. 1,579.90
Total Investment Value:3,200 shares * Rs. 1,579.90 = Rs. 50,678,880
It would mean that if you had invested 200 shares in 2000 at Rs. 75, you would today hold 3,200 shares worth Rs. 50.68 Lakhs, thanks to the stock split and bonus shares given. This is a significant jump from an initial outlay of Rs. 15,000, indicating just how much value has been created by HCL Technologies over the years. Such growth shows the power of investing for the long run, complemented by stock splits and bonus issues.
HCL began its journey in 1991 as HCL Overseas Limited, later changing its name to HCL Technologies Limited. Over the next decade, HCL Technologies became one of the leading IT companies in the world through operations, strategic alliances, and key acquisitions.
1991-1999: Years of Growth
2000-2005: Growth and Global Outreach
2006-2010: Innovation and Acquisitions
2011-2015: Technological Thought Leadership
2016-2020: Expansion and Digital Transformation
2021-Present: Strategic Alliances and Recognitions
HCL Technologies has also been generous with dividends, providing its shareholders with returns on their investments. Following is a history of the company’s dividends:
HCL Technologies Ltd shows that the value of shares could increase tremendously over time. Going back to 2000, if you had bought 100 shares for Rs. 7,500, that sum would have risen until today to roughly Rs. 25.28 lakhs or so for 1,600 shares by 2024. What a growth!
However, the unclaimed shares transferred to the IEPF have deprived you of the opportunity to gain from such growth. Getting back unclaimed shares prevents you from missing out on later gains, helping you to appreciate your investment. Our experts at Enterslice will help you recover unclaimed shares from IEPF.
The IEPF is a government-funded initiative to which shares, bonds, or money that have not been collected within a stipulated period of time.
The Ministry of Corporate Affairs deals with the fund according to the Companies Act of 2013. The object of the scheme is to protect the interests of the investors by safeguarding the unclaimed funds, dividends, and shares that remain unclaimed for a prescribed period. When shareholders usually fail to claim their dividends for seven or more continuous years, the shares and the relevant dividends are sent to the IEPF, so this guarantees that funds will never be irretrievably lost.
Once these shares are transferred to the IEPF, the original shareholder or their legal heirs will file a claim for those shares. The IEPF authorities ensure that the process through which these shares are reclaimed is done transparently and accessible for ease.
There are several reasons why HCL Technologies Limited shares were transferred to the Investor Education and Protection Fund. Commonly, these are:
As shown in the case of HCL Technologies Ltd. shares, equity holds certain values and takes a long time to accumulate those values. It is estimated that had you purchased 100 shares back in 2000 for Rs. 7,500, these would have spiked to 1,600 shares valued today at around Rs. 25.28 lakhs in 2024. Just imagine the kind of growth!
However, if you have unclaimed shares transferred to the IEPF, you forfeit the chance to benefit from such growth. It helps in the claim of unclaimed shares, hence preventing you from losing out on their growth and potential benefits of investment.
To check whether your HCL shares are in the IEPF, follow these simple steps.
If you have or suspect to have unclaimed shares from HCL Technologies Limited, follow these simple steps:
The unclaimed shares will be reimbursed after confirmation is provided on being transferred to IEPF. You may perform an IEPF search through the IEPF portal. If the results show that the shares are under IEPF, you may then proceed.
The next step of the process is the filling of the IEPF-5 form. The form is available on the IEPF website and is one of the primary documents that must be submitted when claiming unclaimed shares of HCL Technologies Limited.
Along with the completed IEPF-5 form, you will need to submit several documents to support your claim:
Once your IEPF-5 form and documents are ready, send them to the Nodal Officer of HCL Technologies Limited. The Nodal Officers will verify your claim and forward it to IEPF.
When you have successfully lodged your claim, the Nodal Officer at HCL Technologies Limited will verify the details and submit them to the IEPF Authority. The IEPF Authority processes the claims and this may take around eight to twelve months for verification and processing.
HCL Technologies Ltd with a rise in its share price from Rs. 75 in the year 2000 to Rs. 1,579.90 in 2024, has demonstrated impressive growth providing awe-inspiring value to its investors. If you possess any unclaimed shares from HCL, the time is nigh for action. The recovery process through IEPF is all direct and easy. Once an application is made for unclaimed shares, don’t even think of releasing the opportunity for HCL’s value creation to go down the drain.
Do not sit quietly; claim your shares and enjoy the appreciation of values created by long-term holding of one’s investments lesson HCL Technologies Ltd has even taught to its erstwhile and present shareholders.
To get expert assistance in recovery of unclaimed shares of HCL Technologies Ltd from IEPF, visit https://enterslice.com/.
The recovery of shares of HCL Technologies Ltd involves the need to ascertain that your shares are referable to the Investor Education and Protection Fund. Shares, after being unclaimed for seven years, are transferred to the IEPF. The recovery means that you can check if they fall into IEPF, fill the IEPF-5 form, attach necessary documents, and send them to the Nodal Officer of HCL Technologies Ltd for further processing.
To check if you have shares unclaimed, you need first to go to the IEPF website, input details like folio number, or investor name, or Demat account number, and click on search. This will help you check if you have shares of HCL Technologies Ltd within IEPF.
It generally takes eight to twelve months for one to claim shares from HCL Technologies Limited from IEPF. This duration comprises verification by the Nodal Officer of HCL Technologies Ltd and the process done by the IEPF authority.
The IEPF-5 form is a necessary document for claiming unclaimed shares or dividends from the IEPF fund that has details of you, shares, and the reason for claiming. It helps the IEPF Authority track your request and process your claim accordingly.
An individual is required to submit the following documents to claim shares of HCL Technologies Limited from IEPF:• Completed IEPF-5 form• Indemnity bond• Share certificates (if available)• Aadhaar card• Bank account details• Demat account details
An indemnity bond is a legal document that protects the company and the IEPF Authority from future claims about the ownership of the shares. It is necessary to ensure that you are the rightful claimant for the shares you ask for from the IEPF.
No, there is no fee to claim unclaimed shares from the IEPF. It is done free of charge; only documents and the form must be submitted.
Yes, a legal heir can recover unclaimed shares of HCL Technologies Limited in case of the death of a shareholder; necessary documents, a succession certificate, or a legal heir certificate must be submitted to the heir along with form IEPF-5.
There is no specific time limit for making a claim for unclaimed shares from the IEPF. But it is prudent to keep on with the procedure to not miss out on any financial benefits.
You will be given a “Submit Request Number” or an SRN once you submit your claim. This SRN can be used by logging into the IEPF portal to make inquiries about the status of your claim.
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