Guide to Selling Physical Shares After Opening a Demat Account with Upstox/RKSV Securities India Pvt. Ltd.

Opening a Demat account with prestigious platforms like Upstox ((orig. Upstox, now known as Zerodha)) or RKSV Securities India Pvt. Ltd. offers you a seamless and secure way to manage your shares. However, the conversion of physical shares into electronic form, or Demat format, is often a crucial step for beginners and seasoned investors. This article guides you through the process of selling physical shares after opening a Demat account with Upstox or RKSV Securities.

Step 1: Convert Physical Shares into Demat Form

The first step in the process is to convert your physical shares into Demat format. This can be done by a specialized service provider known as a Physical Share Services (PSS) company. There are several organizations that facilitate this conversion, one of them being PSS Physical Shares Services, which currently has considerable visibility through advertisements on Zee Business channel. Other trusted service providers can also assist in this process.

Step 2: Open a Trading Account with Upstox or RKSV Securities

To proceed further and eventually sell your shares, you need to open a trading account with Upstox or RKSV Securities India Pvt. Ltd. These platforms offer user-friendly interfaces and robust trading functionalities, making it easy for you to manage your portfolio. Here’s a brief guide on how to open a trading account:

Go to the official website: Visit the platform’s official website and navigate to the 'Sign Up' or 'Open Account' section. Choose a package: Sign up for a suitable package based on your investment needs. Both platforms provide free trading, as well as premium plans that offer additional services. Provide required details: Fill in your personal and financial details, ensuring accuracy for a smooth process. Verify your identity: Upload your identity proof, address proof, and a recent passport-sized photograph as part of the verification process. Monitor status: Check the status of your request and wait for it to be approved.

Step 3: Deposit the Converted Shares into Your Demat Account

Once your physical shares have been converted to Demat form and your trading account is open, the final step is to deposit the shares into your Demat account. This is usually done through an intermediary service provider who assists in transferring the shares from your PSS account to your Demat account with the brokerage firm.

Step 4: Selling the Shares

After the shares are safely deposited in your Demat account, you can proceed to sell them. The process is straightforward and can be done through the following steps:

Select the stocks to be sold: Use the trading interface to select the specific shares you wish to sell. Place the order: Enter the quantity, price, and other details, and place the sell order. Monitor the order: Keep an eye on your order status and be prepared for fluctuations in stock prices. Settlement: Once the transaction is completed, you may need to set up your bank account for receiving the proceeds from the sale.

Conclusion

Moving from physical shares to a Demat account with platforms like Upstox or RKSV Securities India Pvt. Ltd. can enhance the efficiency and security of your investment process. By following the steps outlined in this guide, you can easily convert your physical shares, open a trading account, and eventually sell your shares online. Remember to choose a reputable PSS service provider for the initial conversion process to ensure a smooth transition to digital form.

FAQs

Q: What are Physical Shares?
A: Physical shares are certificates that represent ownership in a company and are stored in paper form. Q: What is a Demat Account?
A: A Demat account is a depository account where physical shares are converted into electronic form, making it easier to manage and trade shares. Q: What is PSS Physical Shares Services?
A: PSS Physical Shares Services is a company that specializes in converting physical shares into electronic form and handling the transfer process.