No, you cannot convert physical shares to demat in 2023. The deadline for converting physical shares to demat was March 31, 2023. After that date, companies and their RTAs (Registrars and Transfer Agents) will no longer be able to process requests for dematerialization of physical shares.
This was a mandatory requirement by the Securities and Exchange Board of India (SEBI) to promote a paperless environment in the Indian stock market. The deadline for the dematerialization of physical shares was extended several times in the past, but it was finally made mandatory on March 31, 2023.
If you still have physical shares, you will need to hold onto them as a physical asset. You will not be able to trade them on the stock exchange, and you will not receive any dividends or other benefits associated with the shares.
If you have any questions, please contact your broker or the RTA for the company whose shares you hold.
Here are some of the reasons why the deadline for the dematerialization of physical shares was made mandatory:
- To reduce the risk of fraud and forgery.
- To make it easier for investors to trade their shares.
- To promote a paperless environment.
If you have any physical shares, I recommend that you convert them to demat as soon as possible. This will ensure that you can continue to trade your claims and receive any dividends or other benefits that are associated with them.
Physical share