Dematerialisation of allahabad bank shares

General
1

Hi ,

My father owns 500 shares of allahabad bank in physical form certificate and now due to SEBI guidelines we need to convert them in dmat account but due to merger these shares needs to be of indian bank , i saw the process of dematerialising on zerodha but cant find any way to dematerialise my merger bank shares .
Can anyone help in this regard?

Thanks

2

Hey @Sparsh_Gupta

In this situation, you reach out to the RTA of Indian Bank to obtain a new share certificate initially. After which, the dematerialization process can be initiated.

3

1000 shares of Allahabad bank turned 115 shares of Indian bank …it means you are entitled for 57 shares of Indian bank plus cash credit of 0.5 fractional share.
you must have got cash credit and shares …normally in such cases you get shares too automatically without requirement of surrender of erstwhile co share certificate .