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NISM Certifications · NISM-Series-VI: Depository Operations · Functions of Depository Participant - Dematerialisation

Mr. Iyer holds physical share certificates of a listed company and wants to convert them into electronic form. With whom should he first submit the Dematerialisation Request Form (DRF) along with the certificates?

He should submit the DRF and the share certificates to his Depository Participant, with whom he holds a demat account. The DP processes the request and sends it through the depository to the issuer or its registrar, who confirms the dematerialisation.

  1. AThe Depository Participant with whom he holds a demat accountCorrect
  2. BThe Registrar and Transfer Agent of the issuer directly
  3. CThe stock exchange where the shares are listed
  4. DSEBI regional office

Explanation

A holder must have a demat account with a DP and submit the DRF with the physical certificates to that DP. The DP then forwards the request electronically to the issuer/RTA via the depository. The investor does not approach the exchange or SEBI.

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