A Guide to Claim and Recover Ultratech Cement Shares from IEPF
Do you possess Ultratech Cement Shares? If yes, then the experts from the share market industry are giving you some major reasons to hold on to them this year! The company has managed to maintain premium position in the market due to a balance with prevalent macro risks. At present, the stock beautifully trades at Rs 6050 levels.
Stocks in the cement sector have improved approximately by 20-25 per cent from their peak. The credit goes to the flat demand in the past few quarters, higher costs and current global headwinds. Ultratech has also benefitted hugely from this trend. This stock is trading at a discount to its historical multiples! As per reports from the insiders in the industry, annual forward PE is at 22.4 times (Bloomberg consensus) against 5 year average of 30.6. On the other hand, single year forward EV/EBITDA is at 13 times versus 5 year average of 15.5 times. Since valuation is reasonable, new investors are advised to wait and track how variables fare and cost part prior to taking exposure to the stock.
Things to Know about Claiming Shares IEPF
Transfer of Shares to IEPF
There are many instances where shares or unpaid/unclaimed dividend get automatically transferred to IEPF. It happens when the dividend declared by the company remains unpaid/unclaimed for a period of 7 years. Under such circumstances, Ultratech Cement will transfer the same to IEPF.
Additionally, all shares for which dividend remains unpaid or unclaimed for 7 years continuously or more, should be transferred by the company in the name of IEPF.
Claiming of Shares after Transfer to IEPF Authority
Most people are confused about who can actually claim the shares / unclaimed dividend once they are transferred to the IEPF. Anyone whose shares / unclaimed dividend or other amount as listed below have been transferred by the Ultratech Cement to IEPF may claim the shares and/or apply for refund of amounts transferred, from the IEPF Authority:
- Matured deposits
- Matured debentures
- Application money due for refund
- Interest thereon
- Sale proceeds of fractional shares
- Redemption proceeds of preference shares
Individuals can claim by submitting an online application in Web-Form IEPF-5. This form is available on official website of IEPF.
Additionally, claim application can also be made by any successor, legal heir / representative of the deceased person (share/dividend holder).
Requirement for PAN
PAN is mandatory for filing claim on the Web-Form IEPF-5. The claimant must provide PAN verification. Failing to providing the same will disqualify your claim form submission online.
Mobile Phone Number and Email
The online form requires OTP based verification for submission. This mean the claimant should have an active mobile number and a valid email-id.
Documents Required for Claim
The primary aim of the IEPF is to protect investor’s hard earned money. However, it is not possible for shareholders to make claim for dividend in a regular manner as soon as it gets transferred to IEPF.
One must follow a specific procedure to get IEPF claim as explained on their official website www.iepf.gov.in.
All requisite documents should be submitted to ensure claim successful approval of request.
Here is a list of documents required for submitting claim for shares which have already been transferred to the IEPF:
- A print out of duly filled and uploaded claim form. It should have signature of claimant. In case of involvement of joint holders, claim form to be signed by all the joint holders.
- A copy of acknowledgment bearing SRN No. duly attested by Claimant.
- Indemnity Bond (Original) with claimant signature.
- Advance Stamped Receipt (Original)
- In the event of refund of matured deposit or debenture, or bonds, original certificate thereto.
- A copy of AADHAAR card of the claimant. In case of involvement of joint holders, a copy of AADHAAR Card of all joint holders is required.
- A copy of PAN card.
- Client Master List duly attested by claimant.
- Original Share Certificate (if shares are in Physical Form)
- Proof of Entitlement (Certificate of share/interest warrant Application No. etc.)
- Original Cancelled Cheque Leaf.
- A copy of Passport, OCI and PIO card if the claimants are foreigners and NRI.
- In case any Joint Holder is deceased, a copy of Death certificate should be attached.
- Other optional documents, (if any)
After filing an application in Web-Form IEPF-5, the claimant should send all of the relevant documents, to Registrar and Transfer Agent of the Company for verification of the claim.
If you need any assistance to Claim and Recover Ultratech Cement shares from IEPF Authority then contact us today.
