PVR INOX Urges Physical Share Holders to Update KYC Details and Convert Shares to Demat Form

PVR INOX Urges Physical Share Holders to Update KYC Details and Convert Shares to Demat Form​

PVR INOX Limited has issued reminders to shareholders holding shares in physical form, urging them to furnish necessary Know Your Customer (KYC) details. The company emphasizes that updating these records is critical for the smooth processing of future dividends and other payments.

The reminder mandates shareholders to update all required KYC information including PAN and Address with PIN code, Mobile Number, E-mail, Bank Account details, and Specimen Signature. PVR INOX has dispatched an intimation letter detailing these requirements to identified physical share holders.

Impact on Dividend Payments​

The company stated that any dividend or interest payable against holdings will be processed exclusively in electronic mode starting from April 1, 2024. Shareholders who update their details after this date stand to automatically receive dividends and interest declared during that period (from April 1, 2024) pertaining to the securities held following the updation.

The necessary forms for KYC updates include Form ISR-1, Form ISR-2 (with banker attestation), and Form SH-13 for Nomination updation. These forms can be downloaded from KFin Technologies Limited website.

Importance of Dematerialization​

PVR INOX also informed shareholders that the transfer of shares in physical form is not permitted effective from April 1, 2019. Shareholders holding physical securities are strongly requested to convert their shares into demat form at the earliest possible time, noting that this conversion will benefit market liquidity and ensure timely credit of dividends.

The brief process for dematerialization requires shareholders to approach a SEBI registered depository participant (DP). After opening or utilizing an existing demat account, stakeholders must submit the share certificates and requisite documents to their DP. The DP then forwards these materials to the Registrar and Share Transfer Agent, KFin Technologies Limited, for scrutiny and eventual credit of the shares into the shareholder’s demat account.

PVRINOX Stock Price Movement​

On Friday, shares of PVR INOX Limited edged higher to settle at ₹1156, achieving a 0.66% gain. The stock saw trading activity, with 137,511 shares exchanged during the session.