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



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?

Rate these answers

7 Replies to “I have paper shares of Andhra Bank. How do I get them onto a DEMAT format?”

  1. 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.


  2. 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.



  3. 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.


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


  5. 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!


  6. 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 .

    If you are interested please send a mail to
    [email protected]
    or call – 09819705121 (Mukesh Chaturvedi)
    Thanks





Leave a Reply

Your email address will not be published. Required fields are marked *