Can You Convert Demat Shares Back to Physical Form? Rematerialisation Explained
- August 17, 2026
- Posted by: Kunal Singla
- Category: Market
Rematerialization of shares is the process of converting electronic demat holdings back into physical share certificates using a Remat Request Form (RRF). It is rarely used but still available for eligible securities. SEBI RA INH000013776.
Quick Answer
Rematerialization of shares is the process of converting electronic securities held in a demat account back into physical share certificates. While dematerialisation (physical to electronic) is the default direction for most investors, rematerialization of shares remains legally available and is occasionally used in specific situations such as gifts to non-resident relatives, certain corporate restructurings or personal preference. The rematerialization of shares process requires submitting a Remat Request Form (RRF) to your DP, who coordinates with the company’s Registrar and Transfer Agent (RTA) to issue physical certificates.
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When Is Rematerialization of Shares Used?
this process is an uncommon process in modern investing. The most typical situations where investors request this reverse process include: gifting securities to a person in a country where electronic holding is not possible or practical, complying with a specific legal or testamentary requirement, or personal preference for physical ownership of heirloom or heritage securities.
It is important to note that this process does not make the securities immediately tradable on Indian exchanges. Once securities are converted through this reverse process into physical certificates, you cannot sell them on NSE or BSE until they are dematerialised again. This is a significant practical limitation of this reverse process that investors should consider carefully.
Rematerialization of Shares: Step-by-Step Process
The this conversion process involves the following steps.
- Obtain the Remat Request Form (RRF): Collect the RRF from your DP. The RRF is the specific form used to initiate rematerialization of shares.
- Complete the RRF: Fill in the details of the securities you want to convert (ISIN, quantity), your demat account details, and sign the form. For rematerialization of shares from a joint account, all joint holders must sign.
- Submit the RRF to your DP: Submit the completed RRF to your DP’s branch or registered office.
- DP debits the demat account: Your DP deducts the specified quantity from your demat account and generates a Remat Request Number (RRN) for tracking.
- DP forwards to RTA: The DP sends the rematerialization of shares request to the company’s RTA through CDSL or NSDL.
- RTA issues physical certificates: The RTA prints and dispatches the physical share certificates to the address registered with the company. Rematerialization of shares typically takes 30 to 60 working days.
Limitations of this reverse process
this conversion has several important limitations.
| Limitation | Detail |
|---|---|
| No exchange trading | Physical shares resulting from rematerialization of shares cannot be traded on NSE or BSE directly |
| Higher risk | Physical certificates are susceptible to loss, damage, theft and forgery — risks that rematerialization of shares reintroduces |
| Longer timelines | Rematerialization of shares takes 30 to 60 working days vs 15 to 30 for dematerialisation |
| Not always available | Not all securities or issuers support rematerialization of shares; delisted companies may not process the request |
| Re-demat needed to sell | To sell on exchanges, the investor must dematerialize physical shares again after rematerialization of shares |
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Charges for this reverse process
this conversion is not free. Your DP will charge a remat processing fee, which varies by DP. The issuer company or RTA may also charge for printing and dispatching the physical certificates. Check the fee schedule with your DP before initiating the this reverse process process.
Unlike dematerialisation, where the issuer company bears the processing cost, this reverse process charges are generally borne by the investor requesting the physical certificates. The total cost can range from a few hundred to a few thousand rupees depending on the number of physical certificates to be issued.
this reverse process vs Dematerialisation: Key Comparison
Understanding the difference between this reverse process and dematerialisation helps investors make the right choice.
Dematerialisation converts physical certificates to electronic holdings, reduces risk and enables exchange trading. this reverse process reverses this process, converting electronic holdings to physical certificates and reintroducing all the risks of physical securities. Dematerialisation is the modern standard; this reverse process is an exception used only in specific circumstances.
this reverse process Through Univest
Univest is a SEBI-registered platform (SEBI RA Reg. No. INH000013776) linked to CDSL. For queries about this reverse process through a Univest demat account, contact Univest support at univest.in for the current RRF form and applicable charges. The this reverse process process at Univest follows standard CDSL guidelines.
Given the practical limitations of this reverse process, consider whether your objective can be met through other means such as an off-market transfer of electronic securities before initiating the this reverse process process.
Conclusion
this reverse process is a legitimate but rarely used process that converts electronic demat holdings back into physical share certificates. The this reverse process process takes 30 to 60 working days, incurs charges and reintroduces the risks of physical holding. Most investors have no reason to use this reverse process; if you are considering it, consult your DP about whether an alternative approach such as an off-market transfer would better meet your objective.
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Disclaimer: Data and figures in this article are sourced from publicly available information including SEBI circulars and depository guidelines. These may not reflect the most current operational procedures of your specific depository participant. Please verify all process details with your DP or broker before initiating any account action. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is rematerialization of shares?
Ans. this reverse process is the process of converting electronic securities held in a demat account back into physical share certificates. The this reverse process process uses a Remat Request Form (RRF) submitted to the DP, who coordinates with the company’s RTA to issue paper certificates. It is the reverse of dematerialisation.
Can I sell shares after rematerialization of shares?
Ans. No, you cannot sell shares on NSE or BSE immediately after this reverse process. Physical certificates resulting from this reverse process are not directly tradable on Indian exchanges. To sell them, you would need to dematerialize physical shares again through the DRF process.
How long does this conversion take?
Ans. this reverse process typically takes 30 to 60 working days from the date your DP submits the Remat Request Form (RRF) to the company’s RTA. This timeline is longer than the 15 to 30 working days typically required for the reverse process of dematerialisation.
Who bears the cost of this reverse process?
Ans. The investor requesting this reverse process bears the cost. Your DP charges a processing fee for the remat request, and the issuer company or RTA may charge for printing and dispatching physical certificates. The total cost of this reverse process varies by DP and the number of certificates involved.
Why is this reverse process uncommon?
Ans. this reverse process is uncommon because it reintroduces the risks of physical share certificates (loss, damage, forgery) and makes the shares non-tradable on exchanges without a further dematerialisation step. Most investors find no practical reason to use this reverse process since electronic holdings are safer and more liquid.
Is this reverse process available for all securities?
Ans. Not all securities support this reverse process. Delisted companies may not process the request. Some issuers may have operational limitations. Check with your DP and the company’s RTA before initiating this reverse process to confirm that the specific security is eligible for the remat process.
