A Step By Step Guide to Converting Physical Shares into a Demat Form |
Posted: March 23, 2023 |
Dematerialization is a wise decision to keep your shares safe and secure. You might think that converting physical shares and securities into a demat form can seem like a daunting task, but it is actually quite clear. Rurash Financials provide the best physical to demat shares conversion. We have a step-by-step guide to help you through the process:
Step 1: Open a Demat accountThe first step is to open a Demat account with a depository participant (DP) of your choice. For this, you will need to provide some basic details like your name, PAN card details, and address proof. Once your account is opened, you will be assigned a unique Demat account number. Step 2: Submit your physical sharesNext, you need to submit your physical share certificates to your DP. Also fill in a Demat request form (DRF) provided by the DP, which includes details such as the name of the company whose shares you are holding, the number of shares, and the distinctive numbers on the share certificates. Step 3: VerificationAfter you submit the DRF and physical share certificates, the DP will verify the documents to ensure that they are genuine. Once the verification process is complete, your shares will be credited to your Demat account. Step 4: Wait for confirmationYou will receive a confirmation from your DP once your shares have been successfully converted to a Demat form. This confirmation will include details such as the number of shares that have been credited to your Demat account and the date of conversion. Step 5: Keep track of your holdingsOnce your shares are in a Demat form, you can easily keep track of your holdings through your Demat account. You will also be able to buy and sell shares online, without the need for physical share certificates. In conclusion, converting physical shares into a Demat form is very easy and not so harsh on your back. All you need to do is open a Demat account, submit your physical share certificates, and wait for the conversion to be completed. Once your shares are in a Demat form, you can easily manage and track your holdings online.
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