Parag Milk Foods Kicks Off Shareholder KYC and Dividend Claim Drive

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AuthorKavya Nair|Published at:
Parag Milk Foods Kicks Off Shareholder KYC and Dividend Claim Drive
Overview

Parag Milk Foods has initiated a 'Saksham Niveshak' campaign from April 1 to July 9, 2026. The drive aims to assist shareholders in updating their Know Your Customer (KYC) details and claiming any outstanding dividends to prevent their transfer to the Investor Education and Protection Fund (IEPF). This proactive measure aligns with directives from the Ministry of Corporate Affairs and IEPFA.

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Parag Milk Foods Promotes Shareholder Engagement

This campaign is important because shareholders might have outdated contact or bank details with their Depository Participant (DP). If these details are not updated, dividends may not be credited directly to their accounts.

By making it easier to claim outstanding dividends, Parag Milk Foods helps shareholders retain ownership of their assets and avoids the complex process of reclaiming funds from the IEPF.

Company Background and Policies

Parag Milk Foods' Dividend Distribution Policy emphasizes compliance with the Companies Act, 2013, concerning unclaimed dividends and IEPF transfers.

The company also has a Stakeholder Management Policy for transparent shareholder engagement. In April 2025, the company raised ₹161 crore via convertible warrants to manage debt and support capital expenditure.

Key Actions for Shareholders

Shareholders should actively verify and update their KYC details with their DP or the company's registrar.

Those with unclaimed dividends from FY19 to FY25 are urged to claim them during this campaign before they are transferred to IEPF.

Potential Risks and Past Issues

Risks include not receiving dividend payments directly if bank details are outdated. Unclaimed funds and shares are transferred to IEPF after seven years.

The company has also faced past regulatory issues, including SEBI penalties for insider trading (January 2023), FSSAI penalties for alleged substandard products (late 2025 and early 2025), and notices from NSE and BSE for minor compliance delays (December 2025).

Peer Landscape

Peers in the Indian dairy sector include Nestle India Ltd., Hatsun Agro Products Ltd., Heritage Foods Ltd., and Dodla Dairy Ltd. Specific shareholder outreach details for these peers are not readily available.

What to Watch Next

Monitor the number of shareholders who update KYC and claim dividends during the campaign.

Watch for further company communications on unclaimed assets.

Monitor the company's ongoing compliance with exchange and regulatory requirements.

Evaluate the effectiveness of these engagement initiatives.

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