Please find enclosed a specimen of the letter and email that is being sent to the relevant shareholders requesting them to dematerialize their physical shareholding.
HEROMOTOCO · price
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Awaiting price reaction for this filing.
Hero MotoCorp has sent letters and emails to shareholders who still hold shares in physical form, asking them to convert their holdings into dematerialized (demat) form. The communication cites SEBI's 2018 notification that mandates securities to be held only in demat form for any transfers, with the deadline originally set for April 1, 2019. The company has partnered with HDFC Securities to help shareholders open free demat accounts (first year annual fees waived) as a convenience option. The letter also explains the step-by-step dematerialization process and lists benefits like faster transfers, elimination of physical certificate risks, and quicker corporate benefit disbursements. KFin Technologies, the company's registrar, has been engaged to assist shareholders with the process.
This is a routine compliance filing with no material impact on the stock price or shareholder value. Shareholders holding physical certificates may want to act on this to avoid inconveniences in future transfers, but it does not affect existing holdings or company operations.