Physical Share Services

Physical Shares & Lost Share Recovery Services

Have old physical share certificates, missing certificates, inherited shares, or outdated shareholder records? Understand your holdings, resolve documentation issues, and identify the appropriate route for dematerialisation, transmission, or IEPF recovery.

Talk to an Expert Check Your Share Case

Physical Share GuidanceUnderstand what your certificates represent
Lost Certificate AssistanceDocumentation support for missing certificates
Demat Conversion GuidanceKnow the route from paper to Demat

Guidance and documentation support. Final action rests with the company, its RTA and your depository participant.

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Found Old Share Certificates? Don't Ignore Them.

Old physical certificates may still represent a valid shareholding — sometimes with bonus shares or unclaimed dividends attached. Before deciding what to do, the details should be checked against the records held by the company or its Registrar and Transfer Agent (RTA).

Old Certificates Found
Certificates discovered at home, in a locker or among family papers.
Lost or Damaged Certificates
Certificates that are missing, torn, faded or otherwise unusable.
Inherited Family Shares
Shares registered in the name of a parent, grandparent or relative.
KYC / Name / Signature Mismatch
Holder details that no longer match current PAN, KYC or signatures.

Basics

What Are Physical Shares?

Physical shares are shares held as paper certificates issued by a company, rather than as electronic entries in a Demat account. The certificate is evidence of ownership, while the company's register — usually maintained by its RTA — is the official record of who holds the shares.

Most investors held shares this way before dematerialisation became standard. Under current SEBI norms, transfers of listed shares are processed only in Demat form, which is why holders of paper certificates are generally advised to dematerialise them.

Reading a share certificate

Share certificate: The paper document issued by the company confirming that the named holder owns the shares described on it.
Shareholder name: The registered holder, or joint holders, exactly as recorded by the company. This usually needs to match your PAN and KYC.
Folio number: Your account number in the company's register of members. One folio can cover several certificates.
Certificate number: A unique serial number that identifies each individual certificate.
Distinctive numbers: The range of numbers assigned to the specific shares covered by the certificate.
Number of shares: The quantity of shares the certificate represents, along with their face value.
Company / RTA records: The official register kept by the company through its RTA. Any request — Demat, transmission or duplicate issue — is verified against it.

Lost Certificates

Lost Share Certificate? Your Shareholding May Still Be Traceable

Losing a physical certificate does not automatically mean that the underlying shareholding has disappeared. The company's register still records the holder, folio and shares. The appropriate procedure depends on those records and the specific circumstances.

Step 1
Verify Details
Collect what is available — old dividend letters, annual reports or bank entries.
Step 2
Identify Folio / Holding
Confirm the company, folio and number of shares with the RTA.
Step 3
Establish Required Documentation
Usually KYC, an affidavit and an indemnity bond; some cases also need an FIR or public notice.
Step 4
Company / RTA Process
The RTA verifies the request. Under current SEBI norms, a Letter of Confirmation is generally issued instead of a new paper certificate.
Step 5
Demat / Further Action
The Letter of Confirmation is submitted to your depository participant for dematerialisation within the time allowed.

Requirements such as an FIR, newspaper advertisement, surety or stamp duty vary by company, RTA and holding value. The outcome depends on the company's verification and cannot be promised in advance.

Family Holdings

Shares Held in a Parent's or Relative's Name?

Certificates in the name of a father, mother, grandfather, grandmother or another relative often turn up among family papers. If the registered holder has passed away, the shares generally need to be transmitted — formally recorded in the name of the person entitled to them — before they can be dematerialised, sold or transferred.

Discuss a Family Shareholding

Who applies depends on how the shares were held

Surviving joint holderWhere one joint holder has died, the shares are usually transmitted to the surviving holder(s) on submission of the death certificate and KYC.
NomineeWhere a nomination is registered with the company, the nominee can apply for transmission with the documents the RTA prescribes.
Legal heirWhere there is no surviving holder or nominee, legal heirs may need succession documents — such as a succession certificate, probate or legal-heir certificate — depending on the value of the holding.

Documents for a surviving joint holder, a nominee and a legal heir are not the same. Value thresholds and formats are set by SEBI norms and applied by each RTA.

After Verification

What Happens After Your Physical Shares Are Verified?

Once the holder details, folio and documents are in order, the shares can usually be converted into electronic form in your Demat account. This is a separate process with its own form and verification steps.

1Physical Certificate
2Document Verification
3Dematerialisation Request
4Company / RTA Verification
5Demat Credit

The request form, submission and verification stages are explained step by step in our dematerialisation guide.

Learn About Dematerialisation

Unclaimed Dividends

What If the Shares or Dividends Have Moved to IEPF?

If dividends on your shares have gone unpaid or unclaimed for seven consecutive years, the company may have transferred those dividends — and the underlying shares — to the Investor Education and Protection Fund (IEPF). They can still be claimed, but through a separate IEPF claim process rather than a normal Demat request.

Explore IEPF Claims

How We Help

How We Help With Physical Share Cases

Our role is guidance and documentation support. Decisions on your request are taken by the company, its RTA and, where relevant, your depository participant.

01
Understand Your Case
We discuss what you hold, how it came to you and what you want to achieve.
02
Review Available Documents
We go through certificates, letters and KYC papers to see what is available and what is missing.
03
Identify the Appropriate Route
Demat conversion, transmission, duplicate issue, KYC update or an IEPF claim — we help you see which may apply.
04
Guide You Through Company/RTA Requirements
We explain the forms, formats and supporting documents the company or RTA typically asks for.
05
Help You Understand the Next Steps
If the RTA raises a query or asks for more documents, we help you understand what is being asked.

Checklist

Documents You May Need

Keep copies of whatever you have. A missing document does not always stop a case, but it can change the route.

Holding details

Physical share certificate
Folio details
Dividend records or company letters

Identity & KYC

PAN
Identity proof
Address proof

Bank & Demat

Bank proof
Demat details

Where applicable

Death certificate
Legal-heir / succession documents

Exact requirements can vary depending on the company, RTA and nature of the case.

FAQs

Physical Shares: Frequently Asked Questions

What are physical shares?

Physical shares are shares held as paper certificates issued by a company, instead of electronic holdings in a Demat account. The certificate shows the holder's name, folio number, certificate number, distinctive numbers and number of shares.

Are old physical shares still valid?

Old certificates can still represent valid ownership if the holding is recorded in the company's register. Their current status should be checked with the company or its RTA, as the shares may have been affected by corporate actions, transmission or a transfer to IEPF.

What if my share certificate is lost?

Inform the company's RTA as early as possible so the loss is recorded. The RTA will explain its procedure, which typically involves KYC, an affidavit and an indemnity bond, and sometimes an FIR or public notice. Under current SEBI norms, a Letter of Confirmation is generally issued, which is then submitted for dematerialisation.

Can old physical shares be converted into Demat?

Generally yes, if the holder details match the company's records and the shares are still in your folio. The certificates are submitted with a Dematerialisation Request Form through your depository participant, and the RTA verifies them before the shares are credited.

What if the shareholder has died?

The shares usually need to be transmitted to the surviving joint holder, nominee or legal heirs before they can be dematerialised or sold. The documents required depend on who is applying and the value of the holding.

What if my name does not match the certificate?

Minor differences, such as initials or spelling, are usually resolved with supporting identity documents or an affidavit as required by the RTA. Larger changes, such as a change of name after marriage, may need additional proof.

Can inherited physical shares be dematerialised?

Yes, once the shares have been transmitted to the nominee or legal heir. Under current SEBI norms, transmission of physical shares generally results in a Letter of Confirmation, which is then used to dematerialise the shares.

What if my shares have moved to IEPF?

Shares and dividends transferred to IEPF cannot be dematerialised through the normal route. They can be claimed by filing Form IEPF-5 and completing the company's verification, subject to approval by the IEPF Authority.

How can I find my folio number?

The folio number is printed on the share certificate and usually appears on old dividend warrants, annual reports and letters from the company or RTA. If none of these are available, the RTA may be able to trace the folio using the holder's name and other details.

How long can a physical share case take?

Timelines vary widely. A straightforward Demat request may move relatively quickly, while lost certificates, transmission or IEPF claims involve more verification and can take considerably longer. No fixed timeline can be assured.

Need Clarity?

Not Sure What to Do With Your Old Share Certificates?

Share the basic details of your holding and understand which documents and process may apply to your case.

Talk to an Expert

Client Query

Found Old Share Certificates? Don't Ignore Them.

Old Certificates Found

Lost or Damaged Certificates

Inherited Family Shares

KYC / Name / Signature Mismatch

What Are Physical Shares?

Reading a share certificate

Physical Share Problems We Help You Understand

Certificate issues

Holder & KYC details

Family & inheritance

Company changes & unclaimed amounts

Lost Share Certificate? Your Shareholding May Still Be Traceable

Verify Details

Identify Folio / Holding

Establish Required Documentation

Company / RTA Process

Demat / Further Action

Shares Held in a Parent's or Relative's Name?

Who applies depends on how the shares were held

Tell Us About Your Physical Share Case

Helpful details to have handy

Client Query

What Happens After Your Physical Shares Are Verified?

What If the Shares or Dividends Have Moved to IEPF?

How We Help With Physical Share Cases

Understand Your Case

Review Available Documents

Identify the Appropriate Route

Guide You Through Company/RTA Requirements

Help You Understand the Next Steps