Power Grid Corporation of India Limited has informed the Exchange about Copy of Newspaper Publication for Transfer of Equity Shares of the Company to Investor Education and Protection Fund (lEPF) Authority.
POWERGRID · price
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Awaiting price reaction for this filing.
Power Grid Corporation of India (PGCIL) has published a newspaper notice informing shareholders about the upcoming transfer of certain equity shares to the Investor Education and Protection Fund (IEPF) Authority. Under Indian company law, shares whose dividends have remained unclaimed for seven or more consecutive years are required to be moved to the IEPF. This filing is a regulatory disclosure confirming that the company has completed the mandatory newspaper publication step before executing the transfer. Shareholders whose shares are at risk of being transferred have a window to claim them by updating their KYC details and encashing pending dividends. Once transferred, shares and the related unclaimed amounts can still be reclaimed from the IEPF by filing the prescribed application.
This is a routine compliance filing and not expected to move the stock price. Shareholders who have not claimed dividends for 7+ years should act promptly to avoid having their shares transferred to the IEPF Authority.