Top 5 Companies in IEPF with Highest Unclaimed Shares

 

The 2025 Updated Guide to the Top 5 IEPF Companies with the Most Unclaimed Shares

Unclaimed shares have become a growing concern for investors across India, especially as more companies transfer dormant holdings to the Investor Education and Protection Fund (IEPF). When shareholders fail to claim dividends for seven consecutive years or do not update their KYC details, their shares automatically move to the IEPF. Each year, thousands of investors search for their forgotten or inherited holdings. In this blog, we highlight the Top 5 companies in IEPF with the highest unclaimed shares and why you should act before it’s too late.

1. Reliance Industries Limited (RIL)

Reliance Industries continues to top the list due to its large investor base built over decades. Many investors still hold old physical share certificates or lost track of inherited shares, leading to a substantial number of unclaimed holdings. Corporate restructuring, bonus issues, and split shares have also contributed to confusion among long-term investors. RIL consistently updates its IEPF records, making it easier for shareholders to check whether their names appear in the list and begin the claim process.

2. ITC Limited

A dominant name in FMCG, hospitality, and packaging, ITC has millions of shareholders spread across India. Due to address changes, missing bank updates, and outdated contact records, a significant number of ITC’s dividends remain unclaimed every year. These unclaimed dividends eventually result in the transfer of shares to IEPF. The company’s website provides a detailed unclaimed dividend list, helping investors quickly identify whether their shares have moved to the IEPF and initiate recovery.

3. Tata Steel Limited

With a legacy spanning more than a century, Tata Steel has shareholders from multiple generations. Older investments, physical certificates, and family-held shares often remain untracked, especially after the passing of original investors. Many families discover later that shares were transferred to the IEPF due to missed dividend claims. Tata Steel offers strong support for verifying share status and guiding investors through the reclaiming process, ensuring transparency and timely communication.

4. Larsen & Toubro (L&T)

L&T is another company with a high number of dormant shareholder accounts. Often, investors fail to convert old paper certificates into demat format, leading to dividend lapses. After seven consecutive years of unclaimed dividends, these shares are transferred to the IEPF. L&T regularly updates its investor section and allows individuals to check their unclaimed shares online. Their nodal officer provides support for IEPF-5 verification and helps claimants complete the recovery process smoothly.

5. State Bank of India (SBI)

As India’s largest bank with decades of mergers and structural changes, SBI has a significant volume of unclaimed dividends and shares. Many investors, especially senior citizens, lost track of their holdings when branches merged or account details changed. As a result, numerous shares have been transferred to the IEPF over the years. SBI’s updated unclaimed dividend reports make it easier for investors to verify the status of their holdings and begin the recovery procedure.

Conclusion

These Top 5 companies in IEPF highlight how common it is for shareholders to lose track of their investments. If your family invested in any of these companies, it is essential to check the IEPF records and start the claim process promptly. Recovering unclaimed shares is possible—but only if you act in time.