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Transfer of Shares only in Dematerialised form

Effortless Share Transfer, Demat Mode

Transfer of Shares in Dematerialised Format Only

As per SEBI's directive effective December 5, 2018, shares of the Company are transferable exclusively in dematerialised form. This initiative aims to simplify future share transfers. Shareholders with shares in physical form are encouraged to convert their holdings into dematerialised form. To proceed, shareholders can approach any SEBI-registered Depository Participant (DP) to open a demat account.

Outlined below is the procedure for dematerialising shares:

  1. Submission of Request : Shareholders must submit a Dematerialisation Request Form (DRF) along with the original share certificates to their respective DP.
  2. Marking Certificates : The DP or shareholder marks the certificates as “SURRENDERED FOR DEMATERIALISATION.”
  3. Acknowledgment Slip : The DP verifies the documents and provides a stamped acknowledgement slip to the shareholder.
  4. Verification and Scrutiny : The DP examines the DRF and certificates for accuracy. If any discrepancies are found, the documents will be returned to the shareholder for correction. If valid, the details are entered into the Depository’s system, and a unique Dematerialisation Request Number (DRN) is generated.
  5. Electronic Submission : The DRF, along with the DRN, is electronically forwarded to the Company or its Registrars and Transfer Agents (RTA). Physical certificates are also dispatched for verification.
  6. Company/RTA Verification : Upon receiving the DRF and certificates, the Company/RTA validates the request and approves it electronically via the Depository’s platform.
  7. Share Credit to Demat Account : Once approved, the Depository credits the corresponding shares to the shareholder’s demat account, completing the process.
  8. Notification to Shareholder : The DP informs the shareholder about the updated demat account status following the process.
  9. Rejections and Objections : If a dematerialisation request is rejected, the Company/RTA issues an objection memo. Shareholders must resolve the objections within 15 days. Failure to do so may result in the request being declined. A fresh request can only be initiated after the rejection of the previous request is confirmed.

The entire dematerialisation process is typically completed within 21 days, provided all documents are in order. Shareholders are encouraged to follow this process to ensure seamless share transactions in the future.