Operational guidelines for Transfer and Dematerialization of re-lodged physical shares

Last updated: 03 December 2020

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This circular provides operational guidelines for the transfer and dematerialisation of re-lodged physical shares. Following SEBI's mandate, all transferred shares must now be issued in demat mode. Investors will receive a 'Letter of Confirmation' from the Registrar and Share Transfer Agent (RTA) after their transfer request is processed. They then have 90 days to submit a demat request to their Depository Participant (DP) using this letter.

CIRCULAR SEBI/HO/MIRSD/RTAMB/CIR/P/2020/236 December 02, 2020 To All Listed Companies (through Stock Exchanges) All Registrars to an Issue Share Transfer Agents (RTA) All Depositories All Recognized Stock Exchanges All Depository Participants (DP) Dear Sir/ Madam, Sub: Operation

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FAQ :

The cut-off date for re-lodging transfer requests was March 31, 2021.

The RTA will retain the physical shares and issue you a 'Letter of Confirmation' detailing the shares and folio information.

You have 90 days from the date of issue of the Letter of Confirmation to submit your demat request to your Depository Participant (DP).

If a demat request is not received within 90 days of the Letter of Confirmation, the shares will be credited to the company's Suspense Escrow Demat Account.

The DP will process your Demat Request based on the Letter of Confirmation provided by the RTA.

Yes, shares required to be locked-in as per SEBI circulars will have a lock-in period of 6 months from the date of transfer registration, even after dematerialisation.