Investor FAQs
1. Whom should I contact for any information or assistance on Share related matters including Dematerialization / Rematerialization, Transfer, Transmission of Shares, Subdivision or Consolidation of Shares, Issue of Duplicate Share Certificates, Unclaimed / Non-Receipt of dividend?

Registration of Share Transfer is carried out only at our Share Registrar's Office i.e. KFin Technologies Pvt. Ltd. Karvy Selenium Tower B, Plot 31-32,Gachibowli, Financial District, Nanakramguda, Hyderabad, Telangana – 500 032, India. Telephone number: +91 40 6716 2222, Toll Free number: 1-800-3454-001. You will have to lodge the shares, either by personal delivery or through post/reputed courier. Alternatively, the shares can be sent to the Registered Office of the Company, which will be forwarded by us to RTA. Our Branch Offices do not handle share transfer processing and hence please do not hand over your shares at Branch offices or at any other offices of the Company.

1.With which Stock exchange and when were the Company's equity shares listed? Did the Company issue any GDRs or ADRs ?

The Company's equity shares are listed with two Stock Exchanges: The Stock Exchange, Mumbai (500510) and The National Stock Exchange of India Limited (LT).

The equity shares of the Company were first listed in BSE on 24th September 1952 and in NSE on 14th December 2000.

GDR's were listed in Luxemberg Stock Exchange on 5th December 1994.

2.What is the Company's Share Capital?

The paid-up share capital of the Company as on March 31, 2019 is Rs. 280.55 crore comprising 140,27,29,385 equity shares of Rs. 2 each. 138,13,25,258 equity shares of the Company, representing 98.47 % of the Company's paid up capital, as on March 31, 2019 are in dematerialised form.

3.How many GDRs were ordered and issued by the Company? How many Equity shares does each GDR represent?

In November 1994, March 1996 and November 2007, the Company offered and issued an aggregate of 2,08,78,620 GDRs under 144A.

Each GDR represents one Equity Share, with a par value of Rs. 2 per share of the Company. The Company's GDRs are listed on the Luxembourg Stock Exchange and admitted for trading on London Stock Exchange. As on 31 March 2019, GDRs representing 2,28,26,592 underlying equity shares of the Company were outstanding.

4.Please give the details of the Annual General Meetings held over the last 3 years.

The Seventy-Fourth AGM of L&T was held on August 1, 2019 at Birla Matoshree Sabhagar, New Marine Lines, Mumbai 400 020, at 3.00 p. m.

The Seventy-Third AGM of L&T was held on August 23, 2018 at Birla Matoshree Sabhagar, New Marine Lines, Mumbai 400 020, at 3.00 p. m.

The Seventy-Second AGM of L&T was held on August 22, 2017 at St. Andrew’s Auditorium, Saint Domnic Road,Bandra West, Mumbai 400 050, at 3.00 p. m.

5.Please give information regarding past Bonus Issues of L&T.
2017 1:2
2013 1:2
2008 1:1
2006 1:1
1986 3:5
1982 3:5
1977 1:2
1973 1:3
1970 1:10
1965 1:7
1.Transfer of shares

SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 mandates that the transfer, except transmission and transposition, of securities shall be carried out in dematerialized form only with effect from 1st April 2019. In view of the numerous advantages offered by the Depository system as well as to avoid frauds, members holding shares in physical mode are advised to avail of the facility of dematerialization from either of the depositories. The Company has, directly as well as through its RTA, sent intimation to shareholders who are holding shares in physical form, advising them to get the shares dematerialized.

Dematerialisation of Shares
1.What is Demat and what are its benefits?

Dematerialisation ('Demat' in short form) signifies conversion of a share certificate from its present physical form to electronic form for the same number of holding.

It is a direct application of scope provided by the tremendous progress made in the area of Information Technology whereby voluminous and cumbersome paper work involved in the scrip based system is eliminated.

It offers scope for paperless trading through state-of-the-art technology, whereby share transactions and transfers are processed electronically without involving any share certificate or transfer deed after the share certificates have been converted from physical form to electronic form.

Demat attempts to avoid the time consuming and complex process of getting shares transferred in the name of buyers as well its inherent problems of bad deliveries, delay in processing/fraudulent interception in postal transit, etc.

Dematerialisation of shares is optional and an investor can still hold shares in physical form. However, as per the directions of SEBI, he/she has to demat the shares if he/she wishes to sell the same through the Stock Exchanges. Similarly, if an investor purchases shares, he/she will get delivery of the shares in demat form.

The Depositories Act, 1996 has been enacted to regulate the matters related and incidental to the operation of Depositories and demat operations. Two Depositories are in operation - National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).

2.How does the Depository System operate?

The operations in the Depository System involve the participation of a Depository, Depository Participants, Company/Registrars and Investors. The company is also called the Issuer.

A Depository (NSDL and CDSL) is an organisation like a Central Bank, i.e. Reserve Bank where the securities on an investor are held in electronic form, through Depository participants.

A Depository Participant is the agent of the Depository and is the medium through which the shares are held in the electronic form. They are also the representatives of the investor, providing the link between the investor and the company through the Depository.

To draw an analogy, the Depository system functions very much like the banking system. A bank holds funds in accounts whereas, a Depository holds securities in accounts for its clients. A bank transfers funds between accounts whereas, a Depository transfers securities between accounts.

In both systems, the transfer of funds or securities happens without the actual handling of funds or securities. Both the banks and the Depository are accountable for safe keeping of funds and securities respectively. The company has to sign an Agreement with NSDL/CDSL (the depositories) and install the necessary hardware/software for operations.

3.How do I demat my shares?

First, you will have to open an account with a Depository Participant (DP) and get a unique Client ID number. Thereafter, you will have to fill up a Dematerialisation Request Form (DRF) provided by the DP and surrender the physical shares intended to be dematted to the DP.

The DP upon receipt of the shares and the DRF, will send an electronic request to the company through the Depository for confirmation of demat. Each request will bear a unique transaction number.

The DP will simultaneously surrender the DRF and the shares to the company with a covering letter requesting the company to confirm demat. The company after necessary verification of the documents received from the DP, will confirm demat to the Depository.

This confirmation will be passed on from the Depository to the DP, which holds your account. After receiving this confirmation from the Depository, the DP will credit the account with the shares so dematerialised. The DP will hold the shares in the dematerialised form thereafter on your behalf as your Trustee and you become beneficial owner of these dematerialised shares.

4.Once my shares are dematted, can I ever get them converted into physical shares?

If you are holding shares in electronic form, you still have the option to convert your holding in physical form by submitting a Rematerialisation Request Form (RRF) through your DP in the same manner as Dematerialisation. Upon receipt of such request from your DP, the company will issue share certificates for the number of shares so rematerialised.

5.What are the charges to be paid to demat one's physical shares? Will it be paid by the company or do I have to pay for it?

The charges differ from DP to DP and therefore you will have to contact your DP for the same. As per SEBI directive, investor are not liable to pay demat charges except at the time of transfer of shares out of his/her demat account.

6.How do I get my dividends on dematted shares? Will I get the Annual Report after I demat my shares and would I be able to attend the AGM?

The Depository Participants will give the list of demat account holders and the number of shares held by them in electronic form on the Record date to the company (known as Benpos). On the basis of Benpos, the company will issue dividend warrants in favour of the demat account holders.

The rights of the shareholders holding shares in demat form are at par with the holders in physical form. Hence you will be eligible to get the Annual Report and will have the right to attend the AGM as a shareholder.

7.What are the chances of any fraud/disputes in using a demat account? Whom should I approach in such cases?

Common risk factors applicable to trading in physical shares like mismatch in signatures, loss in postal transit, etc., are absent since the dematted shares are traded scrip less.

However, in the unlikely event of any other dispute, the concerned Stock Exchange and/or Depository Custodian viz. NSDL/CSDL or SEBI would have to be approached for resolving such issues.

8.Can I pledge my shares in demat form for the purpose of availing any funding/loan arrangement with my bankers?

Yes. You will have to contact your DP or the lending bank for this.

1. How do I make a nomination with regard to my shareholding?

You have to submit a nomination form duly filled in duplicate and signed. If you are holding shares along with other holders then all the holders will have to sign the nomination form.

After the form is received by the company, and if found in order, a registration number will be allotted to the nomination. A duplicate copy of the nomination form received from you will then be returned back to you with an endorsement indicating the registration number and date.

Nomination can be made only in respect of shares held in physical form. In case of dematted shares, your nomination has to be recorded with your Depository Participant.

Only one nomination can be made for each folio. Folios having different order or combination of names of shareholders will require separate nominations.

You may contact RTA for obtaining the abovementioned form.

2. Do I have to send my share certificates along with the nomination form?


3. My shares are held in joint names. Are the joint holders nominees to the shares?

Joint holders are not nominees. They are joint holders of the relevant shares having joint rights on the same. In the event of death of any one of the joint holders, the surviving joint holder/s of the shares is/are the only person/persons recognised by the company as the holders of the shares.

4. Can a nomination once made be changed?

Nomination once made can be revoked by a shareholder by giving a fresh nomination. If the nomination is made by joint holders, and one of the joint-holders dies, the remaining joint holder/s can make a fresh nomination by revoking the existing nomination

5. What is the legal position of the nominee in case of death of the shareholders?

Upon the death of a shareholder, the Nominee, to the exclusion of any other legal heir/beneficiary, is the only person in whom the shares vest. In other words, in case of a valid nomination, the company will not entertain any claim from legal heirs or beneficiaries and the shares will be transmitted only in favour of the Nominee.

In case if the nomination is made by joint-holders, the nomination will come into play only upon the death of all the joint holders. Therefore if one of the joint shareholders dies, the shares will devolve on the surviving shareholders to the exclusion of the Nominee. In this case the surviving shareholders may make a fresh nomination if they so desire.

6. What is the procedure for the nominee to get the shares registered in his name?

Upon death of a shareholder, the nominee is entitled to have the shares transmitted in his favour. He/She will have to give a notice in writing to this effect along with the share certificate(s) of the deceased shareholders. Alternatively, the nominee can transfer the shares held by the deceased shareholder, to a third party.

If a nominee opts for registration of shares in his name, he is required to produce proof of identity, e.g., copy of passport, driving license, voter's identity card or such other proof to the satisfaction of the company. The nominee should also submit his specimen signature duly attested along with a request for transfer.

Upon scrutiny of the documents submitted by the nominee, shares will be transmitted in his favour and share certificates returned to him duly endorsed.

7. I have shares in the demat form. Can I send the nomination form to the company for making a nomination with respect to my shareholding?

No. For making a nomination with respect to dematted shares, you will have to approach your DP. In the account opening form provided by the Depository Participants there is a provision for providing the name of the nominee. Please consult your Depository Participant for further details.

1. In case of joint holdings, in the event of death of one shareholder, how do the surviving shareholders get the shares in their names?

The surviving shareholders will have to submit a request letter supported by an attested copy of the Death Certificate of the deceased shareholder and the relevant share certificates.

The company on receipt of the said documents will delete the name of deceased shareholder from its records and return the share certificates to the applicant/registered holder with necessary endorsement.

2. If a shareholder who held shares in his sole name dies without leaving a will, how can his legal heir/s (either husband/wife/son/daughter, etc.) get the shares transmitted in their names?

The legal heirs should obtain a Succession Certificate or Letter of Administration with respect to the shares and a true copy of the same, duly attested by the Court Officer, or Notary should be sent to the company along with a request letter, transmission form, and all the share certificates in original, for transmission in their favour.

3. If the deceased family member who held shares in his/her own name (single) had left a will, how do the legal heir/s get the shares transmitted in their names?

The legal heirs will have to get the will probated by the High Court/District Court of competent jurisdiction and then send us a copy of the probated copy of the will, along with relevant schedule/annexure setting out the details of the shares, the relevant share certificates in original and transmission form for transmission.

4. A and B had shares in L&T. Both of them died. How do I get the shares transmitted in my name?

The legal heirs should obtain a Succession Certificate/Letter of Administration of the last deceased joint holder in your favour and follow the procedure for transmission of shares.

5. I have already produced the attested/registered will. Since getting it probated would take a long time and money can I avoid that procedure?

You will appreciate that in order to ascertain that the will in question is the last will and testament made by the deceased, it is important that the same is authenticated/probated by the Court. This is to protect the interest of the investors at large and to obviate any future claims/disputes on the same.

6. The name of a joint holder was included only for convenience by the first holder. I am the only heir. Could you transfer the shares in my name as per the will/probate?

As per law, the joint holder is deemed to be having indivisible ownership of the joint property and the company cannot ascertain as to how or why the name was included. As per the Articles of Association of the company, the surviving joint holders are the only persons recognised as having title to the shares.

1. If there is a change in my address what is the procedure to get it recorded with the company?

Kindly send a request letter signed by the shareholder (first named shareholder in case of joint-holders) giving the new address along with the Pin Code and folio number. Also please let us have following documents :

Certified copy of your PAN Card OR Passport OR Driving Licens

Any of the following documents in support of your present changed address:

  • Original/Certified copy of Electricity Bill
  • Original/Certified copy of Telephone Bill
  • Original/Certified copy of Consumer Gas Card
  • Certified copy of Ration Card
  • Certified copy of your Bank Pass Book
  • Certified copy of Flat Agreement
  • Certified copy of Leave and License Agreement
  • Certified copy of any other document in support of your present address.

You may also send us along with above documents, any previous correspondence received by you from the Company wherein your name, address and folio number is mentioned i.e. Counter-foil of Dividend Warrant, Share Certificate, etc. Only on receipt of the above documents and on our satisfying that the same are in order, we will record the change of address and send you a confirmation. Please note that until then communications will continue to be mailed to you at your old address.

2. Can joint-holders request for a change of address?

No. The letter of request will require the signature of the first or all holders.

3. Can there be multiple addresses for a single folio?

No. There can be only one address for one folio.

4. If the shares are dematted, what is the procedure for change of address?

Since your Depository Participant maintains your records of dematted shares, you have to inform them about any change in your address. Your Depository Participant will then pass on this information when any action like despatch of Annual Accounts or payment of dividend etc., is due to be taken by the company.

5. My status has changed from 'Resident' to 'Non-Resident'. How do I ensure that the payments are repatriated outside India?

In the event, your residential status has changed to a that of a non-resident and sale proceeds of the Shares or dividend payment is sought to be repatriated outside India, please obtain prior permission from the Reserve Bank of India through your banker in India and submit to the Company.

Where the sale proceeds and/ or dividend payment is not sought to be repatriated, a duly completed Form of Undertaking would be required to be submitted to the Company.

Specimen of the aforesaid undertaking is available with RTA as well as the Company, which shall be provided on request.

Note: Ensure to mention the Non-Resident Ordinary (NRO) account number with the banker in India to facilitate payment of dividend.

6. What is the procedure to be followed if my status has changed from 'Non-Resident' to 'Resident'?

Please send a letter to the RTA duly signed by the registered holder asking for change in status from Non-resident to Resident.

1. I have not received my dividend. What action do I take?

You may please write to the RTA furnishing the particulars of the dividend not received and also quoting your folio number/client ID particulars (in case of dematted shares) alongwith cancelled cheque leaf and self attested PAN Card copy. We will check our records and issue duplicate dividend warrant if the dividend remains unpaid in the records of the company.

2. What is the procedure for obtaining a duplicate dividend warrant?

If the validity period of the lost dividend warrant has not yet expired, you will have to wait till the expiry date since no duplicate can be issued during the validity of the original warrant. However after the expiry of the validity period, if the dividend warrant is still shown as unpaid in our Bank Statement, we shall issue a duplicate warrant to you expeditiously.

3. Why do the shareholders have to wait till the expiry of the validity period of the original warrant? Couldn't you issue stop payment instructions to the bank for the original warrant and issue a duplicate immediately?

Since the dividend warrants are payable at par all over the country, it is not practically possible for the banks to issue stop payment instructions and it is therefore necessary for us to wait till the validity of the original warrant has expired.

4. Can I claim the old dividends relating to past years that have not been received by me?

As per the present law, the company is retaining all unpaid/unclaimed dividends for the past seven years i.e. from final dividend paid in July 1997. If you have not received any of these dividends, you may please write to the RTA with relevant particulars like folio number, concerned dividend,alongwith cancelled cheque leaf and self attested PAN Card copy etc., and we shall arrange to pay the dividend if it remains unpaid in our records.

5. In order to protect against fraudulent encashment, I want to incorporate the details of my bank account in my dividend warrant. What is the procedure that I should follow?

If you are holding shares in physical form, please give your folio number, details of name, of your bank and account number and photocopy of cheque leaf to our RTA/ISC and we shall incorporate the same in all your future dividend warrants. However, if you are holding the shares in demat form, such details will have to be given to your Depository Participant with whom you have a demat account. Your Depository Participant in turn will pass on this information to the company. This procedure is in accordance with depository regulations.

6. Can I authorise my bank or any other person to receive dividends on my behalf?

Yes. You will have to write to us furnishing the name and address of the authorised person/bank and your folio number and we shall record your instructions accordingly and dispatch the warrant to the mandatee. Please note that this procedure is applicable only if you are holding shares in physical form.

7. Why can't the company take on record the bank details in case of dematted shares?

As per the Depository Regulations, the company is obliged to pay dividend as per the details of demat shareholders furnished by the concerned Depository Participant. The company cannot make any change in such records received from the Depository.

8. What is Nation Electronic Clearing Service (NECS)?

Under this system, you can receive your dividend electronically by way of direct credit to your bank account. This avoids a lot of hassles like loss/fraudulent interception of dividend warrants during postal transit. This also expedites payment through credit to your account compared to dividend warrants in physical form. We would strongly recommend that if you have not already opted for National Electronic Clearing Service, you may please do so.

9. How can I avail of the National Electronic Clearing Service facility?

You should submit the NECS form duly completed along with a photocopy of a leaf of your cheque as advised in the Form and we shall take due note of the same in our records. As a result, all subsequent dividends will be paid to you through direct credit to your bank account.

10. Is the NECS facility available across the country?

Yes. The Reserve Bank of India has enabled NECS facility all over India.

1. I have lost/misplaced my share certificates. What are the steps that I should take to obtain duplicate share certificates?

Please inform our RTA immediately about loss of share certificates quoting your folio number and details of share certificates if available. We shall immediately mark a caution on your folio to prevent any further transfer of shares covered by the lost share certificates.

Simultaneously, you will have to lodge a complaint with the police regarding loss of share certificates and also comply with the following formalities:

Furnish an acknowledged copy of the police complaint.

Furnish an indemnity for loss of share certificates.

Publish a notice in a newspaper on the lines of the draft notice of loss of share certificates and submit the paper cutting of the notice to the company. The notice should contain the details of registered shareholder(s), share certificate numbers and distinctive numbers of shares lost.

Upon receipt of all the above documents we shall proceed to issue duplicate share certificates to you.

However please note that if the lost share certificates and the valid transfer deeds are lodged with the company by a third party for transfer, the case will have to be dealt with on the basis of relevant facts and we shall advise further course of action at that time.

You may contact RTA for obtaining the above formats

2. I have lost my share certificate with transfer deeds duly executed by me. How should I proceed to obtain duplicate share certificates?

You need to follow the procedure as above

3. What action should I take if I retrieve the original share certificate, which I had reported to be lost to the company?

Please surrender the original share certificate to the RTA immediately if the duplicate share certificates have been issued. However, if the original share certificates are found before you comply with the procedure for obtaining duplicate share certificate, please inform the Investor Service Department immediately so that we can take immediate suitable action.

1. I wish to split/consolidate my share certificates into marketable lots. What is the procedure that I should follow?

Please forward your share certificates along with a request letter signed by the registered shareholder/s and we shall split/consolidate the share certificates accordingly.

2. I am holding more than one folio in the same name. Can I consolidate these folios?

Yes. Please forward the share certificate relating to those folios which you wish to merge and we shall consolidate your folios and return the share certificates by endorsing the consolidated folio number.

You may please note that the folios to be consolidated should be in the identical name or in the same order of identical names (in case of joint-holding) and bear the same address.

3. You may please note that the folios to be consolidated should be in the identical name or in the same order of identical names (in case of joint-holding) and bear the same address.

New shares were already posted to your address registered with us in the first week of June 2004. If you have not received the same, please send a request letter signed by the registered shareholder(s). This is in cancellation of old certificates of Rs.10/- each which are no longer tradeable.

4. When I authorise another person to deal with my shares, do I have to report this to the company?

Yes. You will have to execute a Power of Attorney in favour of the concerned person and submit a notarised copy of the same to the RTA for registration. After scrutiny of the documents we shall register the Power of Attorney and inform you about the registration number of the same.

5. I was holding L&T shares of Rs. 10 each and I have lost my share certificates. What is the procedure that I should follow?

Please inform our RTA immediately about loss of share certificates quoting your folio number and details of the share certificates if available. These are no longer tradable securities (since 27 May 2004) and in place of the same we had issued new share certificates of the face value of Rs.2/- each, which we had sent to all the shareholders in June 2004. In case you have not received the same, please confirm so that the Company will take necessary action to issue shares in the restructured capital of the Company.

6. We are holding shares in joint names and would like to change the order of names.

Please forward your share certificates along with a request letter duly signed by all the joint-holders as per the specimen signatures recorded with the company.

1. What was the ratio at which shares were allotted under the Demerger Scheme?

Under the demerger scheme, persons holding 10 shares of the face value of Rs.10/- each prior to demerger, were allotted 5 shares of the face value of Rs.2/- each in L&T and 4 shares of the face value of Rs.10/- each in UltraTech CemCo Limited.

2. How did you deal with the fractions?

Cemco shares pertaining to fractional entitlement were partially disposed off in the Grasim's Open Offer. The balance CemCo shares and entire L&T shares pertaining to fractional entitlement were sold in the open market and net proceeds were sent to shareholders on 6th September, 2004.

L&T (One fraction) = Rs.367.22

CemCo (One fraction) = Rs.59.47

3. Please give details of Listing and Trading of L&T and CemCo Shares

L&T shares resumed trading post de-merger on :

BSE: June 23, 2004

NSE: June 23, 2004

CemCo shares started trading post de-merger on:

BSE: August 24, 2004

NSE: August 24, 2004

4. How has the Scheme enhanced shareholder value?

The scheme has resulted in two independently listed entities valued with reference to their respective performance.

The Open Offer by Grasim has provided an option for the shareholders to encash part of their stake in CemCo.

CemCo as part of the larger Cement capacity will enhance its ability to exploit synergy benefits.

L&T will continue to focus on its core Engineering business.

5. In the event of a shareholder selling the shares held in CemCo and L&T, how is the cost of shares in both the Companies calculated for the purpose of determining the Capital Gains Tax Liability?

To be Computed in accordance with section 49(2C) of the Income Tax Act.

Cost of shares in CemCo = Cost of Acquisition of shares held in L&T x (Net Book value of Assets transferred to CemCo / Net Worth of L&T before Demerger)

The proportion of Net Book value of Assets transferred to CemCo / Net Worth of L&T before Demerger = 1002.12 / 3177.58 = 31.5%

This proportion can be applied to the cost of shares held in L&T to arrive at the cost of shares in CemCo.

The cost of shares in L&T (post demerger) will be the balance 68.5% to be applied to the cost of shares held in L&T.