Tata Power Issues Advisory on Mandatory KYC Update for Physical Security Holders
Tata Power Company Limited has issued an advisory regarding the mandatory updating of Know Your Customer (KYC) details for all shareholders holding physical securities. The company emphasized the requirement to ensure that all records are current, including PAN, registered address with a PIN code, mobile number, bank account details, and specimen signature of the securities holders.The update aims to streamline dividend and interest payments, mandating that the details of all physical security holders be registered with the Registrar and Share Transfer Agent (RTA).
According to the company’s notice, the timely updation of KYC details is critical for maintaining smooth dividend payments. The advisory highlighted key implications regarding the method of payment for dividends and interest:
| KYC Status | Payment Method Requirement | Applicable Period |
|---|---|---|
| Non-updation of PAN, Contact Details, Mobile Number, Bank Account Details, or Specimen Signature | Dividend/interest shall be paid only through electronic mode | With effect from April 01, 2024 |
| Updating PAN, Contact Details (including Mobile Number), Bank Account Details, and Specimen Signature | The security holder would automatically receive all dividends/interest declared between April 01, 2024, and the date of updation | Post updation date |
Shareholders are advised to submit the KYC Form and Form ISR-1, along with the necessary supporting documents, at the earliest to ensure continuous and uninterrupted receipt of declared dividends and interest amounts directly into their bank accounts.
TATAPOWER Stock Price Movement
On Friday, Tata Power Company Limited shares slipped by 0.21% to close at ₹407, marking a slight pullback from the prior session's close. The equity traded on a volume of 4.34 million shares, remaining within an intraday range established between ₹405 and ₹412.25.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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