Hero MotoCorp has announced that it has withheld interim dividends for the financial year 2025-26 for certain shareholders due to incomplete Know Your Customer (KYC) and bank details. This decision aligns with the Securities and Exchange Board of India (SEBI) regulations mandating updated KYC information for shareholders holding securities in physical form.
The company has communicated to shareholders that, as per SEBI’s circular dated November 3, 2021, and subsequent amendments, payments including dividends, interest, or redemption will only be processed electronically upon submission of complete KYC details. These details include Permanent Account Number (PAN), contact details, mobile number, bank account details, and signature. The regulation came into effect on April 1, 2024.
Shareholders whose dividends have been withheld are required to update their KYC details by submitting Form ISR-1 along with self-attested supporting documents. Additionally, Form ISR-2 is needed for banker attestation of signature, and Form SH-13 or ISR-3 for nomination updates. These forms can be downloaded from the company’s registrar and share transfer agent’s website.
In a separate communication, Hero MotoCorp also informed shareholders that dividend payments have been withheld due to incomplete bank details. The company emphasised that, following amendments to the SEBI Listing Obligations and Disclosure Requirements effective November 19, 2025, all dividend payments must be remitted electronically. Shareholders are urged to update their bank account details with their respective depository participants to facilitate the release of withheld dividends.
Hero MotoCorp has advised shareholders to consider converting their physical shareholdings to dematerialised form to mitigate risks associated with physical shares and simplify holding processes.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).