Dematerialisation of Shares is becoming a very popular form these days. The shareholders can convert there physical shares into electronic format. NSDL is the authority for Dematerialisation of Shares of the Company. The Depositories Act has provided dematerialisation route to the Shareholders
Dematerialisation is the process by which a client can get physical certificates converted into electronic balances.
In 10 easy steps you can convert the physical shares into Demat form,Procedure for Dematerialisation of Shares
| Step 1: | Deface of share Certificates by writing “SURRENDERED FOR DEMATERIALISATION” |
| Step 2: | Submission of Dematerialisation Request Form (DRF) to the Depository Participant (DP) |
| Step 3: | Verification of Share Certificates, No of securities and type of Securities along with form DRF by the DP. |
| Step 4: | The DP will scrutinize the form and the certificates. |
| Step 5: | In case the securities are not in order they are returned to the client and acknowledgment is obtained. The DP will reject the request and return the DRF. |
| Step 6: | In case the securities are in order, the details of the request as mentioned in the form are entered in the DPM (software provided by NSDL to the DP) and a Dematerialisation Request Number (DRN) will be generated by the system. |
| Step 7: | The DM forwards the request to the Issuer/ R&T agent electronically. |
| Step 8: | The DP will then despatch the certificates along with the request form and a covering letter to the Issuer/ R&T agent. |
| Step 9: | The Issuer/ R&T agent confirms acceptance of the request for dematerialisation in his system DPM (SHR) and the same will be forwarded to the DM, if the request is found in order. |
| Step 10: | The DM will electronically authorise the creation of appropriate credit balances in the client’s account. The DPM will credit the client’s account automatically. |
