Securities Exchange Board of India (SEBI) vide its notification dated June 08, 2018 has notified that there will be no transfer of physical shares after December 5, 2018. For transfer of shares, it will be mandatory to hold shares in a demat form.
Members may please be informed that with effect from December 05, 2018, requests for effecting transfer of securities in physical form shall not be processed unless the securities are held in the dematerialized form with a depository. Hence, investors are requested to demat their physical holding for any further transfer.
A shareholder can get his shares dematerialized by submitting a Dematerialization Request Form (DRF) to its Depository Participant (DP). A DP is usually an intermediary between a shareholder and the Depository i.e. NSDL & CDSL.
After submission of DRF, a demat request is raised by DP with a unique DRN (Demat Request Number) and the physical share certificates are sent for verification to the concerned authorities (RTA).
Upon verification from RTA, the DP team will convert all the physical share certificates into electronic form. It takes approximately 3-4 weeks for the DP team to convert physical shares into demat Form or electronic form.
We request you to get the physical share certificates dematerialized at the earliest.
Contact below for further enquiries/doubts: