Almost two years after the Securities and Exchange Board of India (Sebi) called for compulsory dematerialisation of all shares, scrips of over half the companies listed on the Bombay Stock Exchange (BSE) are not available in demat form.
The main depository, the National Securities Depository, has only 3,715 listed companies on its rolls whereas there are 7,280 companies listed on the BSE.
And of the 3,715 companies whose shares are available in demat form, only 25 per cent of all the shares of 2,028 companies have been dematerialised.
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Between 25 per cent and 40 per cent of the shares of 902 companies have been converted into demat entries while 50 per cent of the shares of 1,355 companies are available dematerialised.
The public holding in the 3,715 companies available with the depositories varies between 1 per cent and 80 per cent. The shareholding pattern shows even promoters have not converted their shares.
Almost 80 per cent of the public