How do I demat my shares?
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.