My wife holds 100 shares of AXIS BANK Ltd. in physical form since its IPO, where I am the second holder. Me and my wife are having individual DEMAT Accounts at different places.
Now, I want to know if I want to dematerialise those shares in my wifes account, will it be possible? If not, shall we need to open another DEMAT Account, with the same sequence of name?
Please help me.
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You have two options. Either opwen a demat account in joint names in the sequence of the names on the share cerificate.Otherwise sell the shares to either your wife or in your single name in physical form and send it to the company for transfer.After the transferred shares are recieved back in a single name, you can submit them for demat.