Intimation of dispatch of letters to the shareholders of the Physical shares
HBESD · price
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HB Estate Developers has informed BSE that it has sent letters to shareholders who still hold shares in physical form, asking them to update their PAN, KYC (address, email, mobile, bank details, specimen signature) and nomination details with the company's Registrar and Transfer Agent (RCMC Share Registry Private Limited). This is a regulatory compliance exercise driven by SEBI's Master Circular dated May 7, 2024, which makes these updates mandatory for all physical security holders. Shareholders who do not comply will not be able to lodge grievances or service requests with the RTA. More importantly, any payments — including the dividend for FY ending March 31, 2025 if declared — will be withheld until the folio becomes KYC compliant, and will then be released only via electronic mode. The company has also urged physical shareholders to dematerialise their holdings at the earliest.
Existing physical shareholders who do not update their KYC details risk losing access to dividend payments and other shareholder services. This is a routine compliance reminder with no direct effect on the stock price, but it is a useful prompt for physical shareholders to act quickly.