Procedure for Dematerialization of Shares

PROCEDURE FOR DEMATERIALIZATION OF SHARES

In view of the amendment to Regulation 40 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 notified on 8th June, 2018, transfer of securities would be carried out in dematerialized form only with effect from 5th December, 2018, Hence, in the interest of investors holding securities in physical form, it is advisable that they dematerialize their securities at the earliest to avoid any inconvenience in future for transferring those shares.

Procedure for dematerialization of shares for the shareholders holding shares in physical form is given as below:-

·         Step 1:  Dematerialization starts with opening a Demat account. For demat account opening, you need to shortlist a Depository Participant (DP) that offers Demat services. A DP is an agent of the depository (NSDL or CDSL) providing depository services to investors.

·         Step 2:  After Opening Account with DP, the shareholders need to submit the duly filled in Demat Request Form (DRF) (which is available with the Depository Participant), along with physical certificate(s) to the concerned DP.

·         Step 3: The DP will verify that the form is duly filled in and the number of certificates, number of securities and the security type (equity, debenture etc.) are as given in the DRF. If the form and security count is in order, the DP will issue an acknowledgement slip duly signed and stamped, to you.

·         Step 4: DP would setup a demat request on their (CDSL or NSDL) system and send the same to the Company/Registrar and Transfer Agent (RTA).

·         Step 5: Once the request has been successfully made, DP would deface and mutilate the physical certificates, generate a Demat Request Number (DRN) and send an electronic communication to the depository and dispatch the DRF and the share certificate to the Company/RTA.

·         Step 6: Company/Registrar and Transfer Agent (RTA) would verifies the genuineness of the certificates and confirms the request.

·         Step 7: On receiving confirmation, depository will credit an equivalent number of securities in the demat account of the shareholders maintained with CDSL or NSDL.