Rs82,199 Crore: That's IEPF's Investment in 1,561 Companies from Unclaimed Funds!
Moneylife Digital Team 30 August 2024
The investor education and protection fund (IEPF) under the ministry of corporate affairs (MCA), which impounds corporate benefits, shares and debentures that remain unclaimed after seven years, holds shares in 1,561 listed companies. As of 1 August 2024, IEPF's shareholding in these companies is valued at a whopping Rs82,199 crore, reveals information shared by Fee Only Investment Advisers LLP. 
 
The Fee Only Investment Advisers team did an extensive review of shareholding patterns across 1,561 companies listed on the BSE and NSE where IEPF is listed as a shareholder, and published it on their website.
 
As per the data, IEPF's most significant investment is in Reliance Industries Ltd (RIL). IEPF owns 35.97mn (million) shares in RIL. On 1 August 2024, RIL's share price was at Rs3,031.7 per share, taking the valuation of IEPF's stake to nearly Rs10,906.64 crore. 
 
Other top companies in which IEPF had invested include: HDFC Bank Ltd, Hindustan Unilever Ltd, JSW Steel Ltd, Titan Ltd, ITC Ltd, Larsen & Toubro Ltd (L&T), Jio Financial Services Ltd, UltraTech Cement Ltd and Tata Motors Ltd.
 
 
IEPF accumulates funds that have remained unpaid or unclaimed for seven years or more. These include unpaid dividends, application money for unallotted securities, matured deposits and debentures, accrued interest, and grants and donations from various sources, including the central and state governments. Additionally, the income generated from investments made by the Fund contributes to this substantial total.
 
Under the Companies Act, IEPF's funds are allocated for various specific purposes outlined in the regulations.
 
You may also want to read…
 
 
 
 
 
Comments
abhay1955
3 weeks ago
Just checked the Companies Act, 2013. Section 125 (3) speaks on 'How the Fund should be utilized.' It does not say anything about investment or how to manage the fund. The IEPFA website lists the same points as laid down in the Companies Act. What's going on?
s5rwav
4 weeks ago
No Investment in BPCL or HPCL or ONGC or GAIL or Indian Oil or SBI or RCF like Public Sector Companies?
adityag
4 weeks ago
Crazy!!
NSE IPF Paid Rs1,118 Crore To Settle 70,897 Claims of Investor-clients of Top-10 Defaulting Brokers, Including Karvy, BMA Wealth, Anugrah
Moneylife Digital Team 26 August 2024
The National Stock Exchange (NSE) has paid Rs1,118 crore towards settling 70,897 claims filed by investor clients of the top-10 defaulting brokers out of its investor protection fund (IPF) trust from 1 January 2019 to 22 August 2024....
SEBI Proposes Overhaul of Rights Issue Process To Boost Fundraising Appeal
Moneylife Digital Team 21 August 2024
Market regulator Securities and Exchange Board of India (SEBI) has introduced a series of proposed reforms aimed at overhauling the rights issue process to make it a more attractive and efficient method for companies to raise funds....
Reliance Capital Resolution: NCLT Questions ADAVL's Delay in Challenging IIHL Use of Reliance Brand
Sahyaja MS (Bar  and  Bench) 20 August 2024
The National Company Law Tribunal (NCLT) on Tuesday questioned why Anil Dhirubhai Ambani Ventures (ADAVL) had not objected earlier to the use of the 'Reliance' brand by Hinduja Group-owned IndusInd International Holdings (IIHL) during...
RBI Deputy Governor Advocates Periodic Revision of Deposit Insurance Limit amid Economic Growth
Moneylife Digital Team 20 August 2024
In a recent address at the IADI Asia-Pacific Regional Committee International Conference 2024, deputy governor of the Reserve Bank of India (RBI) M Rajeshwar Rao highlighted the need for a periodic upward revision of the deposit...
Array
Free Helpline
Legal Credit
Feedback