ideaForge Technology Limited has confirmed its compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended June 30, 2025. The company received a certificate from its Registrar and Share Transfer Agent (RTA), MUFG Intime India Private Limited (formerly Link Intime India Private Limited), affirming that all securities received for dematerialisation during the quarter were duly processed and listed on the stock exchanges.
The certificate, dated July 5, 2025, and submitted to the BSE and NSE on July 8, 2025, specifically noted that MUFG Intime India Private Limited did not receive any requests for dematerialisation or rematerialisation of securities during the quarter. This indicates a period of stable shareholding records with no significant movement between physical and electronic forms of shares for ideaForge Technology.
Compliance Confirmation and Regulatory Framework
Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, mandates that every listed entity obtain a confirmation certificate from its Registrar and Share Transfer Agent (RTA) on a quarterly basis. This regulation is a crucial component of India's securities market framework, designed to ensure the integrity and accuracy of shareholding records, particularly concerning the dematerialisation and rematerialisation of securities.
The primary objective of this regulation is to safeguard investor interests by ensuring that all physical share certificates submitted for conversion into electronic form (dematerialisation) or vice-versa (rematerialisation) are processed efficiently and accurately. The RTA, acting on behalf of the company, is responsible for confirming that securities received from depository participants for dematerialisation are promptly accepted or rejected and that the corresponding shares are listed on the stock exchanges where the company's other securities are already listed.
Furthermore, the regulation requires the RTA to confirm that all security certificates received for dematerialisation are properly mutilated and cancelled after due verification. This step is critical to prevent any fraudulent re-use of physical certificates. Following this, the names of the depositories (such as NSDL and CDSL) are substituted in the company's register of members as the registered owners within the prescribed timelines, thereby reflecting the electronic ownership of shares.
Key Finding: No Demat or Remat Requests
A significant detail highlighted in the certificate from MUFG Intime India Private Limited is the explicit statement: "We have not received any request for Dematerialization or Rematerialization." This indicates that during the first quarter of the financial year 2025-26 (April 1 to June 30, 2025), there were no instances of shareholders submitting physical shares for conversion into dematerialised form, nor were there any requests to convert dematerialised shares back into physical certificates.
This absence of dematerialisation or rematerialisation requests suggests a period of relative stability in the company's shareholding structure concerning the form of ownership. It implies that the vast majority, if not all, of ideaForge Technology's shares are already held in dematerialised form, which is the preferred and most common mode of holding securities in the modern Indian stock market. Dematerialised shares offer numerous benefits, including ease of transfer, reduced risk of theft or damage, and elimination of stamp duty on transfers.
Company's Commitment to Compliance
Nilesh Ranjan Jaywant, Company Secretary of ideaForge Technology Limited, digitally signed and submitted the certificate to the stock exchanges. This timely submission underscores the company's commitment to adhering to regulatory requirements and maintaining transparency with its investors and the market. Such routine compliance filings are essential for upholding corporate governance standards and ensuring that investor records are accurate and up-to-date.
The process involves a meticulous verification by the RTA, which acts as an intermediary between the company, its shareholders, and the depositories. Their role is pivotal in ensuring that the transfer of ownership and the conversion of securities between physical and electronic forms are executed seamlessly and in compliance with all applicable regulations.
Market Implications and Shareholder Impact
While this filing is a standard regulatory compliance update and does not directly impact the company's financial performance or operational results, it is important for maintaining investor confidence. The confirmation of compliance with Regulation 74(5) assures shareholders that the company's share registry is being managed efficiently and in accordance with SEBI guidelines. The absence of dematerialisation or rematerialisation requests further suggests that the company's shares are predominantly held in electronic form, which is a sign of a mature and well-integrated shareholding base within the depository system.
For shareholders, this means that the records of their shareholdings are secure and accurately maintained by the company and its RTA. It reinforces the reliability of the electronic shareholding system, which is fundamental to the smooth functioning of the secondary market. Such routine compliance updates, though seemingly minor, contribute to the overall transparency and robustness of the capital markets.
