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SEBI Opens Window for Physical Share Conversion Until 2027
Investors holding old paper shares have until February 2027 to convert them to demat under a special SEBI window. The move resolves legacy holdings.
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SEBI's January 2026 circular created a special window for transferring and converting old physical share certificates into demat form. The facility applies to shares bought or sold before 1 April 2019. It opened 5 February and runs through 4 February 2027.
The window is restricted to bona fide, uncontested cases. Disputed matters or shares already transferred to the Investor Education and Protection Fund are excluded, the regulator said.
The rules include compulsory dematerialization, a one-year lock-in, indemnities, and public notices. Investors must submit documents such as proof of identity and address, plus succession papers when the original shareholder is deceased.