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What if I already have a Demat account with another depository?

You can change your Demat account from one depository to another by filling the Delivery Instruction Slip (DIS) book and submit it to your broker. You need to fill the relevant details like your securities information, ISIN number, and the new depository participant's ID, etc. Your broker will then send your request to the DP. The DP will then transfer the shares to your new Demat account. If everything works well then the transfer takes place within 24 hours or the next business day. Brokers charge a cost for the transfer of a Demat account which would differ from broker to broker.


Topic: Demat Account FAQs

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