Can you tell me what is Dematerialisation?
Dematerialisation is a process in which your physical certificates get converted to an equal number of securities into electronic form which is credited into your account with your Depository Participant.
In order to dematerialise his certificates, you will first has to open an account with a Depository Participant. You have to then request for the dematerialisation of your certificates by filling up a dematerialisation request form [DRF], which is available with your DP.
Is it compulsory for me to dematerialise my physical certificates?
It is not compulsory for you to dematerialize your physical certificates. As per the Depository Act of 1996 you have an option to hold shares either in physical or dematerialized form.
Which of my share certificates can I dematerialise?
Your share certificates that are already registered in your name and which matches with the list of securities admitted for dematerialisation by NSDL. NSDL frequently updates the list of companies which can be under the dematerialised form.
What is the time frame under which you can dematerialise my shares?
The process of dematerialisation normally takes about 15 days.
Is there any distinctive numbering for my dematerialized shares?
Your shares will no longer carry any distinctive numbers as it used to be in the physical form. Say you have 500 shares of company X, if you have another 500 shares of the same company X they will be treated as a total of 1000 shares held by you in company X.
I have some odd lot shares can I dematerialise those?
Yes you can also dematerialise your odd lot shares.
Is part dematerialisation allowed?
Yes it can be done as desired by you. You can either fully or partly dematerialise your holdings.
What will happen to my original share certificates?
On materialisation your original share certificates would be cancelled, even if you rematerialise your share certificates you will not receive the certificates with the same distinctive numbers as they become irrelevant on dematerialisation.
What is rematerialisation?
It is to convert your dematerialised holdings back to the certificate form. For rematerialisation you would have to forward your request to us which will be verified for the balances you possess and in turn will be forwarded to NSDL. NSDL in turn will forward your request to the registrar who will print the certificates and despatch them to you.
So that means I convert my electronic holdings into certificates form?
Yes you can, but you may or may not get the same distinctive numbers. But it is not a mater of great concern for you. You will usually be allotted a new folio number. If you already have an existing folio number you may be allotted the same.
What are the benefits of dematerialising my shares?
- On purchase your account with us will be credited with the requisite shares.
- Problems of bad delivery, fake certificates, shares under litigation, signature difference of the transferor(s) etc.
- Physical filling of transfer forms and affixing of share transfer stamps is not required.
- Also you are relieved from the risks of loss of certificates or fraudulent interception of certificates.
How do I effect my transactions through the DP?
Once you have opened an account with a DP you can buy and sell shares in the electronic form, provided the buyer/seller holds shares in the electronic form.
You can sell your shares through any broker all you need to do is to give your DP account details. On buying shares in the depository mode you must similarly inform the broker about your depository account details so that the shares bought would be recredited to your account with the DP.
How will I come to know about whether my Demat account has been updated after each transaction through my DP?
You will be given a passbook or statement of account to inform you of the status of your account.
How do I buy/sell my shares?
You have to give a clear instruction to your DP for any transaction in the prescribed forms, which will be provided at the time of opening the DP account. Your account will be given a credit/debit after settlement.
What about rights and bonus shares, how do I get them when allotted?
You will get a credit to your account with the DP at your option.
What about dividends which the company pays on my dematerialised shares?
You will get your dividend warrants in the same manner as before, the company will sent it to you irrespective of whether your stock are demateroalised or are in physical form.
What about corporate benefits, are there options with regard to the manner in which the benefits will reach me?
Corporate entitlements will be made in the same form as their original holding. You will have a choice with regards to right issues or optional conversion of debentures to shares between physical or electronic mode. However in the case of bonus it will be in the same form as your original holding.
How can I avail for Online application for Delivery Instruction Slip (DIS) book facility?
You need to register for i-Connect Depository services . Please fill an application form and submit to any of the Axis Bank branches offering Demat services.
Do I need to have savings account with Axis Bank for availing this facility?
Yes, your Customer Id of savings account in Axis Bank will be linked to your Demat Account, for providing this facility.
How will DIS book requested online, be delivered?
DIS book requested online will be delivered to your communication address registered with us.