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Can physical shares held by a single holder be dematerialised into a joint demat account?

No, physical shares held by a single holder cannot be dematerialised into a joint demat account. The name on the share certificate should match the name on the demat account for successful dematerialisation. If an existing joint holder demat account is held with Zerodha, a new individual demat account must be opened to dematerialise the shares. To learn more, see Can more than one demat account be opened with Zerodha?

Did you know? Jointly held physical shares can only be dematerialised if the demat account holders are in the same sequence as the names on the share certificates. If the name sequence is different, a transposition form must be submitted. See What is the procedure for transposition and dematerialisation of jointly held shares?

Example Scenario

  • Mr Arun and Mrs Banu are joint shareholders of SBI physical shares with a joint demat account.
  • Names on the share certificate are Mr Arun and Mrs Banu, where Mr Arun is the first shareholder, and Mrs Banu is the second.
  • The names in the jointly held demat account are Mrs Banu and Mr Arun, where Mrs Banu is the first holder, and Mr Arun is the second holder.
  • To dematerialise SBI shares, they must submit the transposition form, which is to be signed in the order of the names in the demat account. The form must be first by Mrs Banu and Mr Arun next.