Letters sent to holders of physical shares to furnish KYC details
ICICIGI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICICI Lombard has sent letters to shareholders holding shares in physical mode requesting them to update their KYC details as mandated by SEBI. The company is collecting PAN, contact details, mobile number, bank account details, specimen signature, and nomination details through forms ISR-1, ISR-2, and SH-13. SEBI regulations state that physical shareholders with incomplete KYC cannot lodge grievances or receive payments (including dividends) except electronically. Dividend payable after April 1, 2024 is being withheld until KYC details are updated. The company is also part of SEBI's 'Saksham Niveshak' campaign to consolidate unpaid dividends before they transfer to IEPFA.
Physical shareholders risk losing dividend payments if they fail to update KYC details. This is a routine compliance exercise with no direct impact on stock price, but may push physical shareholders toward dematerialization.