DRF is a request form to convert your physical share and security into digital or electronic form. Read the article to learn how to fill the DRF and submit the conversion request.
In today’s time, buying and selling shares is a hassle-free and quick online process. But what if you hold physical shares and want to sell them? According to the Securities and Exchange Board of India’s (SEBI) guidelines, you need to convert your physical shares and securities into electronic form to sell/transfer them. To convert physical shares into a digital form , you must have a Demat account and fill out a DRF. Read on to learn what a DRF is and how to fill it out.
The term DRF stands for Dematerialization Request Form. Dematerialization is converting your physical shares and securities into digital or electronic form. DRF is a form that needs to be filled out to request this conversion. However, you need to fulfill the below-mentioned prerequisites for the dematerialization of shares.
a. You need to have a Demat account
b. You must have an account with a Depository Participant (DP)
c. You are required to deface and turn over to the DP any certificates registered in your name
d. You have to fill out and submit a DRF form along with your share certificates
Based on the different scenarios, there are three types of DRF. Take a look at these various dematerialization forms and learn when they are relevant.
Following are the details mentioned in the DRF that you need to fill out.
Enter your existing phone number along with and date of submitting the DRF.
Every client has a unique client ID, and you need to mention the same here.
Mention the name of the holder(s) in the same order as in the Demat account.
Specify the face value of the security as mentioned in the physical share certificate.
Mention the number of shares according to the certificate.
Enter ISIN, a unique 12-digit alphanumeric code given to shares, debentures, bonds, and other securities when the security is admitted into the depository system. Please note that the first two digits of the ISIN code represent the country of registration for security.
Put a tick against whether it is free or locked-in securities, along with the total number of certificates.
Mention folio number, certificate numbers, distinctive numbers, and quantity of shares. Along with it, enter the certificate number found on the share certificate. Kindly enter the from and to numbers if the numbers are in sequence, however, if that’s not the case, enter them separately in each row.
The holders should do their complete signature in the order of their names in the account, which should match the specimen signature at the registrar.
Give a declaration that details duly filled in the application form are true to the best of your knowledge.
To confirm the signature of the securities the banker holds, you need to fill in the following details in Form ISR-2 – company name, type of security, the number of shares, and ISIN.
Dematerialization is converting your physical shares into digital form, and you can raise the request by submitting DRF. Conversion through DRF is easy and hassle-free if you fill out the form diligently. However, if there are some errors, they can be rectified and changed with cooperation and harmony with relevant authorities.
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