An X user who found an old 1992 Reliance Industries share certificate at home was clueless about its worth. "We found these at home, but I have no idea about the stock market. Can someone with expertise guide us on whether we still own these shares?" wrote Rattan Dhillon, sharing the image online.
The certificate for 10 fully paid shares of ₹10 each could now be worth nearly ₹10 lakh, depending on whether they have been claimed or transferred.
Here's how:
Over the years, Reliance Industries has issued multiple bonus shares and stock splits, which would significantly increase the number of shares originally held. In 1997, Reliance issued a 1:1 bonus, doubling the shares. Another 1:1 bonus was issued in 2009, further doubling the count. In 2017, a 10:1 stock split was carried out, converting every ₹10 share into ten ₹1 shares. Based on these corporate actions, the 10 shares mentioned in the certificate would today amount to 800 shares.
As of March 12, 2025, Reliance Industries’ share price is ₹1,247.3, which means these 800 shares would be valued at ₹9,97,840, just shy of ₹10 lakh.
However, if these shares have been inactive for over seven years, there is a chance they may have been transferred to the Investor Education and Protection Fund (IEPF). To verify and reclaim them, the first step is to check whether the shares are still held by Reliance Industries or have been moved to IEPF. This can be done by visiting Reliance Industries' website or contacting their Registrar and Transfer Agent (RTA), KFin Technologies Limited, and providing the share certificate number along with shareholder details.
If the shares are still with Reliance or even if transferred to IEPF, the next step is to gather key documents. These include the original share certificate, PAN card, Aadhaar card, address proof, bank details (such as a cancelled cheque), and Demat account details if available. If the person claiming is a legal heir or nominee, additional documents like a succession certificate, probate, or will will be required to establish entitlement.
Once the documents are ready, the claimant needs to file Form IEPF-5 on the Ministry of Corporate Affairs (MCA) portal, attaching all necessary supporting documents. After submitting this form online, a copy along with all attachments must be sent to Reliance Industries' IEPF Nodal Officer or KFin Technologies Limited for verification. The company will verify the claim and forward a report to IEPF authorities. If the claim is approved by IEPF, the shares will be credited to the claimant’s Demat account or reissued in physical form, based on the request.
It is important to note that if you are claiming as a legal heir, you must first complete the transmission process with Reliance Industries before filing any claim with IEPF. The entire process may take several weeks to months depending on the case and the completeness of submitted documentation.
For complex cases or if there are gaps in paperwork, consulting professional services specializing in share recovery can help smooth the process.
Anyone seeking assistance can contact Reliance’s RTA: KFin Technologies Limited via email at einward.ris@kfintech.com or phone at +91 40 6716 2222. Detailed guidelines are also available on the MCA portal.