No, you cannot dematerialise physical shares held by a single holder into a joint demat account. You need to ensure the name on your share certificate matches the name on your demat account for successful dematerialisation.
If you already hold a joint demat account with Zerodha, you must open a new individual demat account to dematerialise your single-holder physical shares.
Joint physical shares dematerialisation requirements
You can only dematerialise jointly held physical shares if your demat account holders appear in the same sequence as the names on your share certificates. If the name sequence differs, you must submit a transposition form.
Example scenario
- Mr Arun and Mrs Banu are joint shareholders of SBI physical shares with a joint demat account.
- Share certificate lists: Mr Arun (first shareholder) and Mrs Banu (second shareholder).
- Joint demat account lists: Mrs Banu (first holder) and Mr Arun (second holder).
Required action: They must submit the transposition form to dematerialise the SBI shares. They need to sign the form in the order of names in the demat account. Mrs Banu signs first, followed by Mr Arun.