Peerless Securities Ltd is a leading depository participant in Eastern India with branches all over India. Peerless Securities offers you a secure and convenient way – over a period of time - to keep track of your securities and investments, without the hassle of handling physical documents that get mutilated or lost in transit.

In contrary to the earlier form of dealing in physical certificates with difficulties and delays in transaction, holding and trading, Demat form of trading has certain features as under :-

  • No concept of Markets Lots
  • Dematerialization of physical shares
  • No stamp duty on transfer of securities held in demat form
  • Change of address, Signature, Dividend Mandate, registration of power of attorney, transmission etc. can be effected across companies held in demat form by a single instruction to the Depository Participant (DP).
  • Settlement of Securities traded on the exchanges as well as off market transactions
  • Shorter settlements thereby enhancing liquidity
  • Pledging of Securities
  • Electronic credit in public issue
  • Auto credit of Rights / Bonus / Public Issues / Dividend credit through ECS
  • Auto Credit of Public Issue refunds to the bank account
  • Holding / Transaction details through Internet / email
Before you open your account...

  • You can collect your account opening form from any of our branches.
  • As prescribed by Depository bye-laws, accounts have to be opened in the exact order in which the name(s) appear on the share certificate.
  • Remember that Holding pattern A B is not the same as BA. However, minor differences like abbreviations, spelling mistakes can be ignored provided signatures recorded with the registrar / company are the same.

Get your account opening form details right.

Check your form against these details :
  • All columns are filled in. Write NA wherever not applicable.
  • Bank account number with complete address and 9 digit MICR numbers are filled correctly. This will facilitate effective disbursement of monetary corporate actions into your account.
  • Signature of account holders are always in black.
  • If you would like to receive credit of shares purchased directly into your account, mark standing instruction as 'Yes'.

Type of Account can be opened.

The following accounts can be opened :-
  • Beneficiary Account
  • Beneficiary Account is held with PSL by Individuals / Corporate / HUF/ Trust or by the broker himself for the purposes of holding their securities The beneficiary account holder(s) can also appoint attorney(s) to operate the beneficiary account by executing a Power of Attorney in specified format on stamp Paper of Rs. 50/=.
  • Clearing Member Account
  • A Clearing Member Account is held with PSL by a Clearing Member of the Clearing Corporation (viz. The Broker). Clearing and settlement functions in respect of dematerialised securities are carried through this account.

Your account is opened.

Once your account is opened, you will be allotted a client identity number. You will be sent an operating kit containing :
  • Details of your account as recorded by Peerless Securities Limited.
  • Copy of the agreement entered into with Peerless Securities Limited.
  • "Delivery instruction by client" booklet allotted to your demat account. This booklet helps you transfer shares from your account to broker account and other accounts.
  • Now you are ready to operate your DP account.