Indian Oil to transfer unclaimed shares to IEPF Authority
Indian Oil Corporation Limited announced the transfer of shares to the IEPF Authority for dividends unclaimed for seven consecutive years, specifically for the final dividend of FY 2018-19. Shareholders must submit claims by July 31, 2026, to prevent the transfer scheduled for September 2, 2026.
*this image is generated using AI for illustrative purposes only.
Indian Oil Corporation Limited has issued a notice to shareholders regarding the transfer of equity shares to the Investor Education and Protection Fund (IEPF) Authority. This action applies to shares on which dividends have remained unclaimed for seven consecutive years or more, in accordance with the Companies Act, 2013 and the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. The company has identified shareholders who have not claimed the final dividend for the financial year 2018-19 and subsequent years, making their shares liable for transfer to the IEPF after September 2, 2026.
The company has communicated individually with affected shareholders at their registered addresses on May 26, 2026. Additionally, the details of shareholders and shares due for transfer have been uploaded on the company’s official website. Shareholders are advised to verify their status on the designated web portal to confirm if their holdings are subject to this transfer.
Claim Process and Deadline
Shareholders wishing to prevent the transfer of their shares must submit a manifestation along with necessary documents, such as a copy of their PAN card and address proof, to the company or its Registrar & Transfer Agent, KFin Technologies Ltd. The deadline for this submission is July 31, 2026. If no response is received by this date, the company will proceed with transferring the unpaid dividends and the corresponding shares to the IEPF Authority without further notice.
Consequences of Transfer
Upon transfer to the IEPF Authority, original share certificates held in physical form will be automatically cancelled and deemed non-negotiable. The company will issue new share certificates specifically for the purpose of transferring ownership to the IEPF Authority. However, shareholders retain the right to claim back the transferred shares and any accrued benefits by following the procedure prescribed under the Rules, though this must be done directly with the IEPF Authority.
Key Dates and Contact Information
| Event | Date |
|---|---|
| Individual Communication Sent | May 26, 2026 |
| Claim Deadline for Shareholders | July 31, 2026 |
| Proposed Transfer to IEPF | September 2, 2026 |
For any clarifications, shareholders may contact Mr. Bhaskar Roy at KFin Technologies Ltd., Unit: IndianOil, Selenium Tower B, Plot number 31 & 32, Financial District, Nanakramguda, Hyderabad - 500032. Queries can also be directed via the toll-free number 1800 309 4001 or through email at einward.ris@kfintech.com .
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE242A01010/2787f68fa91e447c.pdf
Historical Stock Returns for Indian Oil Corporation
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.57% | +1.59% | -4.12% | -14.39% | -2.21% | +90.80% |
What impact will the transfer of a significant volume of shares to the IEPF have on Indian Oil's free float and stock liquidity?
Could this large-scale transfer trigger a review of the company's shareholder engagement strategies to prevent future unclaimed dividends?
How might the potential cancellation of physical share certificates accelerate Indian Oil's broader digitization and dematerialization efforts?
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