Important update on your demat account with Zerodha Securities Private Limited
As a part of our internal group & business restructuring, we are merging the business of Zerodha Securities Private Limited with that of Zerodha Broking Limited (Both being associate entities at the Zerodha group). Currently, your demat account will be held with Zerodha Securities Private Limited, and your trading account will be held with Zerodha Broking Limited. Zerodha Broking Limited, being the parent entity and a Public Limited company, would be taking over the Depository Participant business of Zerodha Securities Private Limited. As effective May 1, 2020, your demat account with Zerodha Securities Private Limited will be assigned to Zerodha Broking Limited.
As a client, we request you to take note of the below points:
- There would be no change with respect to your demat account number and there would be no requirement of executing any fresh documentation;
- The Rights and Obligations of both parties under your Account Opening (DP Beneficial Ownership Agreement) documents, would continue to remain operational under the same terms and conditions. You and Zerodha Broking Limited shall continue to be bound by all the existing DP-BO Rights & Obligations documents & all other account opening declarations;
- There would be no changes to the tariff structure with respect to your account;
- In case of any reservations with respect to your account being assigned to Zerodha Broking Limited, please do send an email to [email protected], and we would be happy to assist you with initiating a closure cum transfer of your demat account to another DP with no transaction cost or account closure charge.
In the absence of any explicit reservation/instruction from you on or before April 30, 2020, it would be considered by us that you have provided deemed consent for:
- Tariff structure of Zerodha Broking limited. (There shall be no difference in tariff as compared to Zerodha Securities Private Limited);
- The assignee Depository Participant (i.e. Zerodha Broking Limited) and You shall be bound by & adhere to the statutory DP-BO Rights & Obligations document & all such declarations provided during your account opening.
In short, there is no change operationally that will be visible to you as a Zerodha user. This communiqué is being sent to you as a regulatory requirement.