Got Old Paper Share Certificates?
Convert Them Before They Become Useless
Lakhs of Indian families have forgotten physical share certificates gathering dust in bank lockers and old cupboards. Some are worth a few hundred rupees. Others? Crores. But if they stay as paper, you can't sell, transfer, or receive dividends. This guide gives you the exact process to convert them — with zero confusion.
📜 What SEBI Says About Physical Shares in 2025
Trading of Physical Shares — BANNED
Since April 1, 2019 (SEBI Circular SEBI/HO/MIRSD/DOP/CIR/P/2018/73), no stock exchange accepts physical share delivery for trading. Selling is only possible through demat.
ISR-4 Form Mandatory for Any Request
Per SEBI Circular SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131, physical shareholders must submit ISR-4 (composite KYC form) to the RTA before ANY service request — including demat conversion. Without this, your DRF will be rejected.
Letter of Confirmation (LOC) Process
Under SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2024/26, RTAs now issue a Letter of Confirmation within 30 days. Without LOC, your DP cannot credit shares to demat. KMFSL's direct RTA relationships ensure faster LOC approvals.
🔄 The Conversion Process: Visual Flowchart
Follow this exact sequence. Skipping any step will cause rejection.
Open Demat Account (If Not Already Open)
The demat account MUST be in the exact same name and same holding pattern (single/joint) as the share certificate. Joint holders must open a joint demat account in the same order as on the certificate.
Submit ISR-4 Form to RTA
Download ISR-4 from the RTA website. Fill in PAN, Aadhaar, bank details, nomination, and contact info. Attach self-attested copies and submit to the RTA (KFin Technologies or Link Intime).
Get DRF Form from Your DP
Contact your Depository Participant (broker) and request the Dematerialisation Request Form (DRF). Fill in: Company name, ISIN number, folio number, certificate number(s), and number of shares.
Submit DRF + Certificates to DP
Hand over the filled DRF form along with original share certificates (defaced) to your DP's office. The DP will acknowledge receipt and generate a Dematerialization Request Number (DRN).
RTA Verification & LOC Issuance
The RTA verifies your certificates — checking authenticity, folio records, signatures, and KYC compliance. If everything matches, they issue a Letter of Confirmation (LOC) to the depository (NSDL/CDSL).
Shares Credited to Demat Account!
Once LOC is received, NSDL/CDSL credits shares to your demat account. You'll see them in your broker app. You can now trade, transfer, or hold them digitally. Physical certificates are permanently cancelled.
✅ Interactive Document Checklist
Click each item as you complete it. All items must be checked before submitting.
Single or Joint — must match exactly
PAN, Aadhaar, Bank, Nomination, Contact details
Write "Surrendered for Dematerialisation" and sign on both sides
Company name, ISIN, Folio No., Certificate No., No. of shares
Must match demat and share certificate name
Latest CML attested by your broker/DP
- • Name mismatch → Notarized Affidavit + Gazette Notification
- • Joint to Single conversion → NOC from other holders + Affidavit
- • Deceased holder → Death Certificate + Succession Certificate + Transmission documents
- • Lost certificates → FIR copy + Newspaper advertisement + Indemnity Bond
🚫 Top 7 Reasons Demat Requests Get Rejected
We've processed 5,000+ demat conversions. These are the issues we see every single day — and how we solve them:
Name Mismatch Between Certificate & Demat
"R.K. Sharma" on certificate vs "Rajesh Kumar Sharma" in demat. Even minor differences cause rejection.
Our Fix: We file a name correction request with the RTA using a notarized affidavit, ensuring legal names match across all records before filing DRF.
ISR-4 Not Submitted or Incomplete
Since SEBI's October 2023 circular, NO demat request processes without prior ISR-4 submission. Many investors don't know this.
Our Fix: We prepare and submit ISR-4 first, wait for RTA acknowledgment, then proceed with DRF — always in the correct sequence.
Signature Doesn't Match Company Records
Your signature from 1990 and today's signature are very different. RTAs compare with what they have on file.
Our Fix: We arrange banker verification of signature or submit an affidavit with old-and-new signature comparison attested by a magistrate.
Company Merged, Demerged, or No Longer Exists
e.g., Hindustan Lever → Hindustan Unilever, Indian Petrochemicals → Reliance Industries. The ISIN changes after corporate actions.
Our Fix: Our database tracks 5,000+ corporate actions spanning 40 years. We identify the successor company, correct ISIN, and handle the conversion seamlessly.
Certificate Reported Stolen/Lost in RTA Records
Happens when previous stop-transfer requests were filed. The original certificates show up as "stopped" in the system.
Our Fix: We work with the RTA to lift the stop-transfer through proper legal documentation and verification of genuine ownership.
Shares Already Transferred to IEPF
If dividends were unclaimed for 7 years, your shares may already be with IEPF. Demat conversion alone won't work — you need an IEPF claim.
Our Fix: We first check IEPF records. If shares are there, we file Form IEPF-5. If partially transferred, we handle both demat conversion and IEPF recovery simultaneously.
Duplicate Certificate Numbers in RTA System
Old companies sometimes issued share certificates with overlapping serial numbers during stock splits or bonus issues. This creates system conflicts.
Our Fix: We coordinate directly with the RTA's backend team to resolve certificate number conflicts using folio history and corporate action records.
Have Physical Certificates? Let's Convert Them.
Most people spend 3-6 months struggling with RTA rejections. Our clients get it done in 15-30 days — because we've done this 5,000+ times.
What You Get With KMFSL: