IEPF, Sebi joint programmes from May to help trace unclaimed shares and dividends

The total number of unclaimed shares lying with the IEPFA is over 1.1 billion, valued about Rs 1 lakh crore, while the total value of unclaimed dividends stands at about Rs 6,000 crore.

The Investor Education and Protection Fund Authority (IEPFA), along with capital market regulator Sebi, will be holding investor awareness-cum-assist programmes, or 'Niveshak Shivirs' starting third week of May in several major cities that have large number of investors whose shares and dividends are lying unclaimed for six to seven years, one government official has told Moneycontrol on April 29.

The total number of unclaimed shares lying with the IEPFA is over 1.1 billion, valued about Rs 1 lakh crore, while the total value of unclaimed dividends at about Rs 6,000 crore.

As part of the initiative, selected companies with the highest number of investors in unclaimed dividend account will be invited to set up dedicated kiosks at these events to assist investors directly, said an official release.

On April 28, the IEPFA convened a preparatory meeting with nodal officers of stakeholder companies, chaired by CEO Anita Shah Akella, to finalize operational details for Niveshak Shivirs.

Niveshak Shivirs have been conceived to simplify the procedure for claiming unclaimed dividends and shares, improve financial literacy among investors, and ensure direct and transparent access to investor services.

“By facilitating direct interaction with companies and Registrars and Transfer Agents (RTAs), and by offering immediate grievance redressal support, this initiative is set to significantly reduce investors' dependency on intermediaries and mitigate risks of fraud and misinformation,” said the release.

A Registered Transfer Agent (RTA) is a Sebi-registered entity that handles crucial record-keeping and administrative tasks for mutual funds and companies that issue shares to the public.

During the programme, officials from IEPFA, Sebi, companies, and RTAs will be present on ground to assist investors, ensuring support. Pre-registration for the camps will be enabled through a QR code-linked Google Form, with additional logistic support extended by regional offices of ICAI and Sebi, said the release.

The IEPFA over the last two years has undertaken several measures to strengthen investor empowerment, along with simplifying access to unclaimed shares and dividends. One key step is the relaxation of key documentation requirements for claiming shares, replacing notarization with self-attestation, and waiving the need for succession certificates for claims up to Rs 5 lakh.

The organisation has also introduced an enhanced online search facility on its portal, to enable investors and their legal heirs to easily track and identify unclaimed shares and dividends.

Moneycontrol had reported earlier in April that the IEPFA is all set to roll out is ‘integrated portal’ by August 2025, which is designed to streamline the claims process by offering real-time tracking, direct communication with companies, and instant data validation through interfaces with PAN, depositories, and banks.

Established in 2016, the IEPFA is entrusted with the responsibility of administration of the Investor Education Protection Fund (IEPF), make refunds of shares, unclaimed dividends, matured deposits/debentures to investors, and to promote awareness among investors.