Available Finance Ltd Notifies Physical Shareholders of Mandatory KYC Update

Available Finance Ltd. announced on April 28, 2026, that it has begun sending mandatory Know Your Customer (KYC) update letters to holders of its physical securities. This initiative follows a SEBI Master Circular dated February 6, 2026, which mandates electronic payments effective April 1, 2024. The process is managed by the company's Registrar and Share Transfer Agent (RTA), M/s Ankit Consultancy Pvt. Ltd.

Shareholders receiving these letters are required to provide essential details including their PAN (Permanent Account Number), bank account information, and nomination details to the RTA.

This directive aligns with SEBI's ongoing efforts to enhance investor protection, prevent fraud, and streamline corporate actions through updated KYC information. The regulator has been progressively pushing for the dematerialisation of shares and digitalization of investor data. Past SEBI circulars have already set deadlines for updating details, with consequences ranging from frozen folios to restricted service requests and dividend payments. The April 1, 2024, deadline for electronic payments underscores SEBI's commitment to phasing out physical payment methods.

Shareholders who fail to submit the required KYC information risk having their folios frozen. Such a freeze would prevent them from lodging grievances or utilizing any service requests managed by the RTA. Furthermore, any future payments, such as dividends or redemption amounts, will only be processed electronically once compliance is achieved.

Available Finance Ltd operates within the NBFC sector, which includes major companies like Bajaj Finance, Shriram Finance, and Power Finance Corporation. While larger firms may have largely moved past significant physical shareholdings, the regulatory drive for KYC compliance is a common challenge for companies still managing physical share registers.