Adani Enterprises Limited (AEL) is one of India’s largest conglomerates. The company has interests spanning coal trading, power, infrastructure, green energy, and other sectors.. Are you an investor who has lost track of your AEL shares over the years? Then, this may be because dividends were unclaimed or the shares turned dormant. But, there’s good news that you can reclaim them through the Investor Education and Protection Fund (IEPF). Don’t get confused, as we will take you through this guide to understand the recovery process step by step.
About Adani Enterprises Limited
Before we proceed, let’s get an insight into Adani Enterprises Limited. The Adani Group began small, initially dealing in commodities such as agricultural products and textiles. By the early 1990s, they were already trading raw materials and finished goods across India.
The late ’90s were game-changing for the group. One major milestone was setting up Mundra Port in 1998, which was India’s first private port. They laid the foundation for expansion into logistics, power, and infrastructure.
As the new millennium rolled in, Adani continued to diversify. They became a key player in renewable energy, investing heavily in solar and wind projects. The group also spread its wings globally, buying stakes in mines, ports, and power projects in countries like Australia, Indonesia, and regions in Africa.
Recently, the Adani Group has faced some controversies, like its Carmichael coal mine project in Australia. Environmental groups and local communities strongly opposed this project. Despite all these hurdles, Adani Enterprises continues to grow its footprint both in India and abroad.
Latest Big Investment Updates from Adani
Recently, the Economic Times reported that Adani Enterprises plans to invest about Rs 1.75 lakh crore (around $21 billion) in its airport business. This investment will take place over the next ten years. This expansion by Adani Airport Holdings will see upgrades in cities such as Mumbai, Ahmedabad, Jaipur, Lucknow, and Guwahati.
Interestingly, Adani aims to boost earnings from non-aero segments like retail, real estate, and other airport-side activities. It has been expected that these will contribute up to 75% of total airport revenues. They’re also planning to take the airport business public by 2028.
Currently, Adani Airport Holdings is overseeing the construction of the Navi Mumbai International Airport, expected to open early next year. Overall, for FY25 alone, the group plans to invest Rs 1.3 lakh crore, with green energy and airports being key focus areas.
In line with its clean energy ambitions, Chairman Gautam Adani announced an ambitious $100-billion investment plan. This will focus on infrastructure and clean energy transition over the next decade. A big part of this will be used to add 40 GW of renewable energy by 2030, which will need about Rs 2 lakh crore in investment.
Gautam Adani on the Hindenburg Report
At the 32nd annual general meeting (AGM), Gautam Adani didn’t shy away from addressing the infamous Hindenburg report. He called it a ‘designed attack’ meant to derail the company’s follow-on public offer (FPO). Adani believes the short-seller’s allegations were vague and intended to harm the group’s reputation and market value. He also accused parts of the media of amplifying these claims.
To counter any potential damage, Adani said the group prepaid Rs 17,500 crore in margin-linked financing to protect its portfolio. Interestingly, despite successfully raising Rs 20,000 crore through India’s largest FPO, they decided to return the money to investors. They say this shows their ethical practices and investor-first approach.
What is IEPF, and why does it exist?
The Government of India set up the Investor Education and Protection Fund (IEPF) under the Companies Act, 2013. It aims to protect investors who, for various reasons, have not claimed dividends, shares, or debentures that have been left untouched for a long time. The fund is handled by the Ministry of Corporate Affairs and helps investors reclaim what is rightfully theirs.
Step-by-Step Guide to Recover Lost Adani Shares from IEPF
These given steps will help you understand the entire process of recovering the lost Adani Share from IEPF. If you have any unclaimed AEL shares, follow these steps-
Step 1- Know If You Are Eligible
First things first, you need to see if you qualify to make a claim. You need to qualify a few eligibility criteria to claim the AEL shares and apply for recovery from IEPF. These are listed here-
In case you haven’t claimed dividends for seven consecutive years.
If you haven’t exercised your shareholder rights, like voting, for the last seven years.
If your shares were declared abandoned and moved to the IEPF.
You’re a legal heir or successor of someone whose shares were transferred to IEPF.
Step 2- Keep These Documents Ready
After knowing that you are eligible, you need to gather all the necessary documents. This will help to speed up the process. So, these are the documents that you will need-
PAN card copy
Your Aadhaar card copy
Bank statement or a cancelled cheque
Proof of share ownership. You can either give a share certificate or a demat statement
Any other document that the IEPF authority might ask for
Step 3- Submit Your Application Online
Now, you need to navigate to the official IEPF website and fill out the online application form. You will be asked to enter your personal details, contact info, and specifics about the lost shares you’re claiming. After submitting the application successfully, you will get an acknowledgement receipt. This has a unique IEPF claim ID, so keep this safe.
Step 4- Wait for Claim Verification
Next, the IEPF authority will verify your claim. They will cross-check your documents and confirm your eligibility. The entire process will take time, so you need to be patient. If everything is correct, then they will issue a refund order in your name. This order will include details such as the refund amount and your bank account information, and it will be sent to the registered address associated with your account.
Step 5- Get Your Money
After getting the refund order, take it to your bank along with any supporting documents. Then, your bank will process the order and credit the funds to your account. So, that’s it. If you follow these steps, you’ll be well on your way to recovering your lost shares in Adani Enterprises Limited through the IEPF.
Contact Crystal Peak Wealth For Professional Help
These given steps make the process easy, so you can handle the process yourself. But, it can sometimes get tricky, especially if you’re claiming on behalf of a deceased family member or there’s missing paperwork. In such cases, you can count on Crystal Peak Wealth, which is a trusted share recovery consultant. They can guide you every step of the way to make the process faster and smoother.