• What is dematerialisation?

    Dematerialisation is the process by which a client can get physical certificates converted into electronic balances.

  • How do I convert my paper certificates into an electronic holding?

    To dematerialize your holding, you should first have an account with a Depository Participant (DP) of your choice. You may then hand-over to your DP, the certificates along with the Dematerialisation Request Form (DRF). Only the securities registered in your name can be submitted for dematerialization. Your DP will then send the DRF and the certificates to SSIPL and an electronic request will also be sent through the National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL) network reconfirming the same. SSIPL will verify the documents and if found in order, the dematerialization request will be confirmed to NSDL/CDSL who will in turn inform your DP.

    In the books of the Company, your folio with SSIPL will be debited and the account of NSDL/CDSL will be credited in respect of such dematerialized securities.NSDL/CDSL in their electronic records will credit the account of your DP. Your DP will then credit your account with the number of securities that have been dematerialized and the securities will thereafter be held in electronic form.This process would take approximately 15-20 days.

  • How do I open an account with a Depository Participant (DP)?

    You have to approach a DP and fill up an account opening form and follow the Account opening procedure. The account opening form must be supported by a Proof of Identity. Signature and photograph of investor must be authenticated by an existing demat account holder or by investor's banker. Alternatively, one can submit a copy of a valid Passport, Voters ID Card, Driving License or PAN card with photograph or such other identity proof as may be acceptable to the DP. For Proof of Address you can provide a copy of ration card or passport or voter ID or PAN card or driving license or bank passbook or such other documents as may be acceptable to the DP.

    Further investor has to sign an agreement with DP in the prescribed standard format, containing details of investor's and DP’s rights and duties. DP should provide investor with a copy of such agreement and schedule of charges for his future reference. Thereafter the DP will open his account in the system and provide him the account number.

     Your DP will allot you an account number which will serve as a reference for all your future dealings with them. It may be advisable to be aware of the rates that will be charged to you by your DP for various activities.

  • How do I trade (buy/sell) in electronic form?

    You may buy and sell securities in electronic form through the depository by coordinating with your broker and your DP. Such transactions would be simple rand faster. Payments for such transactions would be made in the same way as is done for physical certificates. Securities purchased in electronic form are credited to your account on the very next day of payout with no formalities off illing transfer deeds or applying to the Company for registration. All such transactions are exempt from stamp duty and accordingly no share transfer stamps are required to be affixed.

    Such transactions are not routed through the Company and the debit/credit takes place directly in the Depository System. However, corporate benefits would be paid to the person holding such securities on the Record date/Book closure date as applicable.

  • Will I be periodically informed about the movement in my electronic account?

    Your DP will update your account after each transaction, and would periodically furnish you with a statement of holding. You may verify this with your DP at the time of opening your electronic account.

  • At what frequency should I receive my transaction statement from DP?

    Transaction statement is received from the DP once in a quarter.

  • What should I do if there are any discrepancies in transaction statement?

    In case of any discrepancy in the transaction statement, contact your DP. If the discrepancy cannot be resolved by the DP you should approach the Depository.

  • Can one open multiple accounts?

    Yes. One can open more than one account in the same name with the same DP at their different locations and also with different DPs.

  • Do one needs to have any minimum balance of securities in his account?

    No. You are not required to maintain any such minimum balance of securities.

  • Does one have to keep his account with the same DP as his broker does?

    No. Depository/DP can be chosen by investor as per his convenience irrespective of the DP of the broker.

  • Can an investor open a single account for securities owned in different ownership patterns such as securities owned individually and securities owned along with others?

    No. The demat account must be opened in the same ownership pattern in which the securities are held in the physical form. If one share certificate is in his individual name and another certificate is jointly held with some other person, in such case two different accounts would need to be opened.

  • Will I continue to receive corporate benefits after converting to electronic form?

    Yes,all the corporate benefits such as dividend, bonus shares, rights shares will be issued by SSIPL to the beneficial owners i.e. the account holders who hold the securities in electronic form. The dividend amounts as and when declared/paid will be sent to you/your bankers directly. The entitlement of rights and bonus shares/debentures wherever applicable, will be credited to the beneficiaries account as per the investors' option and the terms of the issue.

  • How can I reconvert my electronic holding into paper form?

    As per the existing guidelines, an investor can choose to reconvert his electronic holding into physical form at any time through his DP. On receipt of the rematerialisation request along with the Remat Request Form (RRF) the Company will issue fresh certificates.