Top 5 Companies in IEPF with Highest Unclaimed Shares
Top 5 Companies in IEPF with Highest Unclaimed Shares (2025 Updated List)
When investors lose track of their shares due to address changes, missed dividends, or inactivity, the holdings eventually get transferred to the Investor Education and Protection Fund (IEPF). Over the years, thousands of crores worth of unclaimed shares have accumulated, and certain companies top this list due to their large investor base, long history, and widespread shareholding. This blog highlights the Top 5 companies in IEPF with the highest volume of unclaimed shares, helping investors identify if they or their family may have forgotten holdings.
1. Reliance Industries Limited (RIL)
Reliance Industries consistently ranks among the companies with the highest unclaimed shares in IEPF. As India’s largest conglomerate with millions of shareholders, many old physical share certificates and unpaid dividends remain unclaimed, especially from the pre-dematerialisation era. Corporate actions like bonus issues and stock splits further contributed to investors losing track of share entitlements. If your family ever invested in Reliance during the 1980s, 1990s, or early 2000s, it is worth checking the IEPF records for unclaimed holdings.
2. Tata Steel Limited
A legacy company with a century-long presence, Tata Steel has a significant number of unclaimed shares due to its old shareholder base. Many investors who held physical certificates or inherited shares never completed the transfer or demat process, leading to large volumes shifting to IEPF. The company's long history and multiple corporate restructuring events make it one of the Top 5 companies in IEPF by unclaimed share volume.
3. ITC Limited
ITC has millions of retail shareholders across India, making it another major contributor to IEPF unclaimed amounts. Over time, several dividends remained unpaid, and investors who didn't update bank details or convert physical shares often missed the mandatory 7-year claim window. ITC’s unclaimed shares mainly belong to retail investors and inherited estates where family members were unaware of the shareholdings.
4. Larsen & Toubro (L&T)
L&T, a leader in engineering and construction, also features among the Top 5 companies in IEPF with substantial unclaimed shares. Many inactive folios, non-dematted shares, and unclaimed dividends contributed to this situation. Since L&T has seen multiple buybacks, mergers, and restructuring events, older investors without updated KYC details often lost track of their entitlements, resulting in transfer to IEPF.
5. Tata Motors Limited
Tata Motors has a long record of unclaimed dividends and shares, especially from its earlier decades of physical share trading. Many shareholders who purchased shares before dematerialisation never shifted to the demat system or failed to track bonus shares and splits. Due to its wide investor base, Tata Motors remains one of the largest contributors to unclaimed shares in IEPF.
Why This List Matters
Knowing the Top 5 companies in IEPF helps investors identify whether their or their family’s forgotten investments may lie unclaimed. Many individuals discover decades-old holdings only after checking these lists. If you suspect lost shares, checking IEPF records using the shareholder name, folio number, or PAN is the first step.
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