I have paper shares of Andhra Bank. How do I get them onto a DEMAT format?

Question

My father had purchased Andhra Bank shares much before the

DEMAT & Online Trading Concept started. How do I get these

paper shares converted to DEMAT form?

Answer 1

For this u want to  have a DMAT & TRADING a/c after this u can dematerealize ur shares  and for open a DMAT & TRADING a/c

We are a franchise of a Share Brokerage house in Mumbai.

In our case the DMAT accounts are opened directly with Brokerage house and not from us. Our brokerage house provides minimum account opening charge, low brokerage rate etc... and no annual fees for account maintenance.And we also provide u a latest Trading Software free for online trading. And we also provide sure intraday & delivery tips to our clients .

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Thanks

Answer 2

Since your father has bought these long back, it will be good for you to hold on. PSU banks are in for consolidation in 2009, when RBI has to relax norms for Foreign banks buying Indian banks. Andhra Bank is a well managed PSU bank, it will be great for you to hold on. If you want to sell, do it in 2009, when these PSU banks will be valued atleast at 2.5 to 3.5 times book Value.

So ask your father to apply for a demat account, with say ICICI Bank. Once the demat account is opened, it will take a max of 15 days, you can deposit the physical shares with ICICI Bank to dematerilise these shares, and soon they will appear in your dad's demat account. Post that, you can actually trade those shares, but my advise will be don't. You are sitting on good stuff, wait till 2009 consolidation happens in the Banking sector.

Cheers!

Answer 3

Contact Andhra Bank for demant a/c. You can sell without demat. Where is your father? You have shares in physical mode.

Answer 4

if you demate account ,fill dematerialise form provided by the broker and attach the share certificate with the form and to register via your broker.

Answer 5

You can contact your share broker for getting them converted into Demat form.  They will have a specified application form which you have to fill and pay a prescribed amount for converting per scrip. Once this is done, your shares can be converted to demat form.

Answer 6

ask for the form from the bank where u have opened demat accoount ... and fill it

Answer 7

Contact your DP, he will ask you for fill a form in triplicate,hand him the shares and take a receipt.They charge a small fee like Rs.25/- per DRL.In about 15-20days your demat a/c will be credited with the shares.If the shares are not in your name,ask your father to open a demat a/c which is free and repeat the procedure.