What is Dematerialization?
Dematerialization is a process through which physical securities such as share certificates and other documents are converted into electronic format and held in a Demat Account.
What is the process of Dematerialization in Samco?
Below is the step by step process to convert physical shares certificate into demat form:
- Visit our website i.e. samco.in.
- Under the Utilities menu, navigate to the Downloads tab.
- Find the Forms for Demat Account menu.
- Download the Dematerialization Request Form (DRF form).
- Fill the details like demat account number, physical shares details, etc.
- Sign the DRF (Dematerialization Request form) in the Signature with DP and Signature with RTA/Issuer fields, and also mention the Client ID (If It is a joint account, then both the holders need to sign).
- Submit the original share certificates along with the DRFs (Keep a photocopy of the same with you) and a self-attested copy of your PAN.
Courier the above documents to the following address
SAMCO Securities Limited
1004 – A, 10th Floor, Naman Midtown – A Wing,
Senapati Bapat Marg, Elphinstone Road,
Mumbai – 400 013, Maharashtra, India.
What are the charges for dematerialization?
You will be charged Rs 10 per certificate plus Rs 50 per request towards postal charges. Refer to the link for more information on charges. https://www.samco.in/charge-list-demat
- The name on the share certificate should match the name on the Demat account. In the case of name mismatch, submit a gazette letter or an affidavit on Govt. Stamp paper stating that name on the share certificate and name in the demat account are of the same individual. If you have shares of more than 1 company then you need to give us the notarized copies of the affidavit/gazette for all the companies.
- If the share certificates are held by a single holder, it can’t be dematerialized into a joint demat account. If the share certificates are jointly held, the shares have to be dematerialized into a joint demat account with the same names as on the share certificate.
Disadvantages of Using Physical Share Certificate for Trading of Shares:
Some of the disadvantages of trading or holding shares using physical share certificates are listed below:
- Need to be locked and stored safely as physical share certificates are exposed to the risk of theft and loss. Share certificates can also suffer from wear and tear damages etc.
- Transactions using physical share certificate are time-consuming and tedious involving multiple steps which need to be undertaken, whereas transaction of shares in Dematerialised form can be completed in a matter of seconds.
- Any transaction involving a physical share certificate attracts stamp duty payments whereas share transactions using dematerialized shares do not attract any stamp duty payment/liability/expenses.