Bank of Baroda Shares Lost to IEPF? Here’s How You Can Recover Them

Have you ever bought Bank of Baroda shares, only to find years later that they are no longer yours or your dividends are unclaimed? If yes, you’re not alone. Many investors experience this problem, usually because of old records, unmonitored investments, or unexpected life circumstances. The good news is that shares that have been transferred to the Investor Education and Protection Fund (IEPF) are not lost forever, and can be recovered.

This article takes you through the history and size of Bank of Baroda (BoB), the general reasons shares are transferred to the IEPF, and the step-by-step process of reclaiming them. Whether you are the original investor or a legal heir, this guide is your one-stop solution to claim what’s yours.    

About Bank of Baroda

Bank of Baroda (BoB) is India’s oldest and most respected banking group. It is a public sector bank owned by the government and is currently India’s third-largest public sector bank after the State Bank of India and Punjab National Bank. As per 2023 figures, it has established a global brand, ranking at number 586 on the Forbes Global 2000 list, reflecting its strength in finance and global reach.

Key Facts:

• Incorporation Year: 1908
• Headquarters: Vadodara, Gujarat
• BSE Code: 532134
• NSE Code: BANKBARODA
• ISIN: INE028A01039
• Market Capitalisation: ₹93,860.22 Cr
• Current Share Price: ₹180.55
• Registrar: KFIN Technologies Ltd.

In 1969, Bank of Baroda was nationalized by the Indian Government along with 13 other large banks to become a part of India’s economic progress in public hands. It has grown as a profitable Public Sector Undertaking (PSU) ever since.

Global Expansion for Bank of Baroda

Since the 1950s, the Bank of Baroda has embarked on international expansion. Some major points are:

• 1953–1956: Offices in Kenya, Uganda, Tanzania.
• 1957: Expansion into London, a prominent financial centre.
• 1970s: Expansion into Dubai, Abu Dhabi, New York, Brussels, Seychelles, and the Bahamas.
• Current: Operations in more than 20 nations, with millions of NRIs and overseas customers.

Bank of Baroda has established itself as a constant performer with the ability to withstand financial changes and remain a constant source of stable banking solutions for millions of depositors and investors.

Services of the Bank of Baroda

Bank of Baroda has a wide range of banking and financial services, catering to the requirements of all types of customers: retail, corporate, and international.

1. Net Banking (Baroda Connect)

An easy-to-use online interface that provides 24/7 access to managing accounts, transferring funds (RTGS/NEFT), bill payments, and others. It is particularly useful for old people, NRIs, and business professionals.

2. Customer Care

Bank of Baroda has toll-free numbers, email support, and redressal systems for domestic as well as overseas customers. Faster resolution of concerns is guaranteed with the customer-first policy of the bank.

3. Card Services

Debit cards to credit cards with higher limits, Bank of Baroda offers a plethora of choices with added value offers such as reward points, extra offers, and railway ticketing benefits.

4. Retail Loans

It provides home loans, education loans, personal loans, and car loans interest rates at competitive interest rates with hassle-free processing and flexible repayment conditions.

5. Corporate & International Banking

Bank of Baroda provides corporate facilities like trade finance, merchant banking, and foreign currency advances, which hold a central place in international financial services.

Price Trend Analysis of Bank of Baroda (BANKBARODA)

Bank of Baroda stocks are listed on both BSE and NSE under the symbol BANKBARODA. The share price currently stands at ₹180.55, supported by a market cap of over ₹93,000 crore.

The share price of Bank of Baroda, in the past years, has followed the following trend:

• 2008–2012: Period of high growth due to high PSU performance.
• 2013–2017: Fall due to increasing NPAs in the overall banking sector.
• 2019 onwards: Post-merger recovery and digitization-driven upgradation.
• 2023–2024: Bullish sentiment because of strong earnings and declining NPA ratios.

Investors who have held their shares across market cycles and have received their dividends have enjoyed healthy returns.  

Dividend History of Bank of Baroda

Bank of Baroda has a steady history of announcing dividends, particularly during profitable years. Historically, the bank has rewarded its shareholders through dividends when its earnings and capital adequacy ratio have been able to support such dividends.

Sn	Announcement Date	Ex-Dividend Date	Dividend Type	Dividend (Rs)
1	13 May, 2024	28 Jun, 2024	Final	7.6
2	16 May, 2023	30 Jun, 2023	Final	5.5
3	13 May, 2022	17 Jun, 2022	Final	2.85
4	19 May, 2017	22 Jun, 2017	Final	1.2
5	11 May, 2015	16 Jun, 2015	Final	3.2
6	13 May, 2014	12 Jun, 2014	Final	10.5
7	09 Jan, 2014	20 Jan, 2014	Interim	11
8	13 May, 2013	13 Jun, 2013	Final	21.5
9	04 May, 2012	14 Jun, 2012	Final	17
10	28 Apr, 2011	23 Jun, 2011	Final	16.5
11	28 Apr, 2010	24 Jun, 2010	Final	15
12	27 Apr, 2009	18 Jun, 2009	Final	9
13	20 May, 2008	17 Jul, 2008	Final	8
14	30 Apr, 2007	21 Jun, 2007	Final	3
15	07 Mar, 2007	22 Mar, 2007	Interim	3
16	28 Apr, 2006	29 Jun, 2006	Final	5
17	10 May, 2005	30 May, 2005	Final	3.2
18	31 Jan, 2005	16 Feb, 2005	Interim	1.8
19	17 May, 2004	02 Jun, 2004	Final	3.5
20	11 Nov, 2003	11 Dec, 2003	Interim	3
21	13 May, 2014	12 Jun, 2014	Final	10.5
22	09 Jan, 2014	20 Jan, 2014	Interim	11
23	13 May, 2013	13 Jun, 2013	Final	21.5
24	04 May, 2012	14 Jun, 2012	Final	17
25	28 Apr, 2011	23 Jun, 2011	Final	16.5
26	13 May, 2014	12 Jun, 2014	Final	10.5
27	09 Jan, 2014	20 Jan, 2014	Interim	11
28	13 May, 2013	13 Jun, 2013	Final	21.5
29	04 May, 2012	14 Jun, 2012	Final	17
30	28 Apr, 2011	23 Jun, 2011	Final	16.5
31	28 Apr, 2010	24 Jun, 2010	Final	15
32	27 Apr, 2009	18 Jun, 2009	Final	9
33	20 May, 2008	17 Jul, 2008	Final	8
34	30 Apr, 2007	21 Jun, 2007	Final	3
35	07 Mar, 2007	22 Mar, 2007	Interim	3
36	28 Apr, 2006	29 Jun, 2006	Final	5
37	10 May, 2005	30 May, 2005	Final	3.2
38	31 Jan, 2005	16 Feb, 2005	Interim	1.8
39	17 May, 2004	02 Jun, 2004	Final	3.5
40	11 Nov, 2003	11 Dec, 2003	Interim	3
41	27 May, 2003	21 Jul, 2003	Final	4
42	06 Feb, 2003	26 Feb, 2003	Interim	2
43	04 Jun, 2002	02 Jul, 2002	Final	0
44	28 Jun, 2001	13 Jul, 2001	Final	0
45	01 May, 2000	–	Interim	0
46	08 May, 1998	–	Final	0
47	21 May, 1997	–	Final	0
48	30 May, 1999	–	Final	0
49	27 Jun, 2000	–	Final	0

Milestones of the Bank of Baroda

During the last century, the Bank of Baroda has registered a number of significant milestones that mark its growth and significance in India’s banking industry:

These milestones are an indication of BOB’s reputation over decades, a reason investor have retained their shares for generations.

Year	Milestone
1969	Established by an Ordinance on July 19 as a Government of India undertaking. Set up a Non-resident Portfolio Management Consultancy Cell.
1970	Started Income-Tax consultancy services. Subsidiaries include Bank of Baroda (U.K.) Nominees Ltd., Bank of Baroda Fiscal Services Ltd., and Bank of Baroda (Kenya) Ltd.
1986	Sponsored and set up five new RRBs, taking the total to 19. The government subscribed ₹16 crore in capital.
1988	Amalgamated Trades Bank Ltd. The government subscribed ₹14 crore; ₹5.5 crore received from the World Bank.
1989	The government subscribed ₹891.48 lakhs in capital.
1990	The government subscribed ₹2704.41 lakhs in capital.
1991	The government subscribed ₹11491.97 lakhs in capital.
1992	The government subscribed ₹9158.43 lakhs in capital.
1993	The government subscribed ₹409.34 lakhs. Received RBI approval for credit card subsidiary. Acted as custodian for Euro Issues.
1994	The government subscribed ₹163.3 lakhs in capital.
1995	₹163.94 crore transferred from reserve fund.
1996	Launched BANK OF BARODA SUVIDHA and BANK OF BARODA CAPITAL GAINS EXEMPTION DEPOSIT. Fast-track credit processing system introduced. Issued 10 crore shares to the public.
1997	RBI approved the Durban branch. Surveyed eastern states for business. Increased stake in IOB Bank (HK) to 100%. Received top rating for the New York branch.
1998	Implemented autonomy package. Launched BoBGLOBAL credit card. Restructuring international operations ahead of Euro launch.
1999	Initiated DRT in Mumbai. Revised FCNR(B) interest rates. Acquired full stake in Bank of Baroda Uganda. Proposed insurance for rural areas.
2000	Launched OmniBank of Baroda and BoBCash. Began e-banking in Chennai. Opened new branches and 7-day banking. Tied up with PNB for life insurance.
2001	Expanded ATM network. Tied with a US IT firm for infrastructure. Crisil rated the ₹600 crore bond as AAA.
2002	Merged with Benares State Bank. Public offer by Bank of Baroda Uganda. Govt. appointed Vinod Rai and other directors. Launched PARAS credit cards.
2003	Decreased deposit rates. Approved ₹600 crore bond issue. Signed with IBM, HP, and Accenture for BPR. MoU with SIDBI.
2004	Mobilized ₹300 Cr via Tier II bonds. Tied with Punjab Tractors, L&T John Deere for farm lending. Entered China.
2005	Dr. A.K. Khandelwal was appointed CMD. The new logo was unveiled. Formed Baroda Gujarat Gramin Bank. Co-financing deal with EXIM Bank.
2006	MoU with IDFC. Launched SME loan factory in Pune. G.C. Chaturvedi appointed Director.
2007	MoU with IIFC. JV with Andhra Bank and Legal & General Group for life insurance. Atul Agarwal appointed Director.
2008	Smt. Shahid appointed Director.
2009	Cut deposit rates by 50 bps. Dr. Masarrat Shahid was reappointed.
2010	N.S. Srinath became ED. Launched MMLF in UP. Signed MoU with UIDAI and DMCC.
2011	Hiked FD and lending rates.
2012	Raised deposit interest rates by up to 2.5%. Reduced home loan rates by 25 bps.
2013	Cut BPLR and base rate. Raised FD rates. Launched Agri Loan Factory. Sought ₹1800 Cr capital from govt.
2014	Revised interest rates. Issued USD 750 Mn notes. Restricted FII buying. Planned AT-1 Bonds.
2015	Planned ₹1000 Cr AT-1 Bonds. Reduced base rate by 25 bps and then 10 bps.
2016	Opened 111th branch in Andhra. MoU with Heritage Foods.
2017	Won awards for Agri Banking and APY. Launched Baroda Finathon Challenge.
2018	Won Financial Inclusion award. Tied with NERL. Launched Baroda Kisan Diwas.
2019	Won Fintech and CSR awards. Launched Start-Up Branches.
2020	Launched tractor financing and digital lending platform. Festive offers on loans. Won HR Excellence Award.
2021	Launched ‘Bank of Baroda World’ digital platform and WhatsApp Banking.
2022	Acquired 21% in India First Life. MoU with Assam Rifles. Partnered with the RBI Innovation Hub.
2023	Launched Bank of Baroda BRO Savings Account. Named Best Public Sector Bank by the State Forum of Bankers’ Clubs, Kerala.
2024	Signed MoU to jointly finance power and infrastructure projects.

Why Shares and Dividends Remain Unclaimed?

Shareholders are shocked to find that their shares have been shifted to IEPF. The most common reasons include:

Change of Address: Investors do not make changes to their residential address with the registrar company.

Death of Shareholder: Legal heirs do not know about the investment or fail to carry out the transmission formalities.

Lost Share Certificates: Physical certificates got misplaced, resulting in inactivity.

Non-Conversion to Demat: Shares in physical form were not dematerialized prior to regulatory cut-offs.

Failure to Cash Dividend Warrants: Dividends dispatched by cheque are not cashed due to negligence or changed banking information.

Inadequate Succession Planning: No nominee or Will delays access to legal heirs.

All these problems can result in shares being classified as “unclaimed” and eventually transferred to the IEPF.

What is IEPF and Its Purpose?

The Investor Education and Protection Fund (IEPF) was created by the Ministry of Corporate Affairs (MCA) under Section 125 of the Companies Act, 2013.

Purpose of IEPF:

• Protect investors’ interests
• Consolidate unclaimed dividends, shares, and matured deposits
• Promote investor awareness
• Prevent misuse or fraud involving dormant investments

After being transferred to IEPF, the shares cannot be retrieved directly from the company, only by retrieving them through the IEPF Authority via a formal procedure. 

Process of Retrieving Bank of Baroda Shares from IEPF

If your Bank of Baroda shares have fallen into the IEPF, do not worry. You can recover shares from IEPF using the following procedure:  

Step-by-Step Guide:

1. IEPF Website

Visit iepf.gov.in and go to the “Claim Refund” page.

2. Eligibility

Make sure that your shares/dividends remained unclaimed for a period of seven years and have been formally transferred to IEPF.

3. Form IEPF-5

Fill out Form IEPF-5

This is the major method for initiating a claim. Enter correct information, including:

• Personal details
• Shareholding details
• Demat account details
• Bank account details
• PAN and Aadhaar numbers

4. Prepare Required Documents

• PAN Card and Aadhaar
• Original share certificate/demat account statement
• Cancelled cheque/passbook copy
• Proof of ownership
• Advance receipt and indemnity bond (download from the portal)

5. Submit Physical Documents

Forward originals to the nodal officer of Bank of Baroda or KFIN Technologies (the registrar).

6. Verification & Approval

The company authenticates the documents within 30 days and sends them to the IEPF Authority.

7. Final Refund

IEPF processes the claim, and shares/dividends are credited back to your demat/bank account.

Benefits of Claiming Bank of Baroda Shares from IEPF

The following are the benefits of Claiming Bank of Baroda Shares from IEPF:

• Restores Ownership: Legal rights to your investments are restored.
• Access to Dividends: Refund of past dividends (if any).
• Capital Gains: Enjoy appreciation in BOB’s share price over the years.
• Succession Clarity: Suits legal heirs for handling inherited possessions.
• Financial Security: Restored investments can aid long-term financial aspirations.  

How to Avoid Unclaimed Shares in the Future?

To prevent your investments from reaching the IEPF again:

1. Dematerialize Physical Shares: Transfer all physical holdings into demat for simplicity.
2. Update Contact Information: Ensure that your address, mobile number, and email address are current with the registrar.
3. Register a Nominee: Ensure a nominee for all investments for easier transmission.
4. Track Statements: Periodically verify your demat statements and bank statements.
5. Collect Dividends Promptly: Avoid dividend warrant expiry.
6. Maintain Documents: Store soft copies of all documents related to shareholding.

How Can Investorlink Help?

Reclaiming shares from IEPF entails paperwork, follow-up, and coordination with registrars and the MCA. That is where Investorlink fits in.

Investorlink’s Support Includes:

• Preparation of Documents: Support with filling the IEPF Form-5 correctly and preparing affidavits.
• Coordination: Coordination with KFIN Technologies, Bank of Baroda, and IEPF officers.
• Legal Advice: Support with filing FIR, newspaper notices, or succession documents.
• Follow-up on Time: Follow up on your claim to speed up the process.

With hundreds of successful recoveries, Investorlink is a trusted ally in restoring your lost fortunes.

The Final Words

Dividends and unclaimed shares, like those from Bank of Baroda to the Investor Education and Protection Fund (IEPF), do not go down the drain. Investors can still retrieve their rightful property through the right documents and support.

Companies like Investorlink provide professional services to make the recovery process easy, converting what appears to be a bureaucratic ordeal into an easy task. Retrieving such lost investments is not only your right under law, but also is a wise investment decision; your unclaimed fortunes may be well worth something now. Taking prompt action prevents you from losing out on what’s yours.

Frequently Asked Questions