My uncle has nearly 100 shares of Reliance in physical forum (paper form).
How to transfer them in to demat account of mine?
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My uncle has nearly 100 shares of Reliance in physical forum (paper form).
How to transfer them in to demat account of mine?
Your uncle may be required to open a new demat account. Once it is open, he should have to submit filled-in DRF (Demat Request Form) along with the stamped share documents to the Depository Participant (the Company having opened the Demat Account for your uncle). The Depository Participant will in turn, get the necessary things done at the back end to convert those paper-form shares into electronic form, and put positive balance of those shares into your Uncle's Demat Account.
Once this is done, your Uncle can transfer the dematted shares from his demat account into your account by submitting a Transfer Instruction to his Depository Participant.
If you still have query, please post here.
How do I demat my shares?Quote:
Originally Posted by CSI
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 Dematerialization Request Form (DRF) provided by the DP and surrender the physical shares, which you want to be dematted to the DP.
The DP upon receipt of the shares and the DRF, will send an electronic request to the company’s registrar and share transfer agent 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’s registrar and share transfer agent with a covering letter requesting the registrar and share transfer agent of the company to confirm demat. The company’s registrar and share transfer agent 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 dematerialized. The DP will hold the shares in the dematerialized form thereafter on your behalf. And you will become beneficial owner of these dematerialized shares.
One more query -
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 Rematerialization Request Form (RRF) through your DP in the same manner as Dematerialization. Upon receipt of such request from your DP, the company will issue share certificates for the number of shares so re-materialized.