Gujarat Inject invalidates physical shares after 10:1 split
- Physical share certificates are now invalid following the 10:1 sub-division
- Post-split shares must be credited to demat accounts per SEBI Regulation 39(2A)
- Shareholders must submit Form ISR-4 and valid KYC documents to Bigshare Services
- Existing physical certificates cannot be used for transfer or transmission

*this image is generated using AI for illustrative purposes only.
Gujarat Inject (Kerala) Limited has declared all existing physical share certificates invalid with immediate effect. This action follows the completion of the company's equity share sub-division, where each share of face value ₹10 was split into 10 shares of face value ₹1.
The move is mandated under Regulation 39(2A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation requires that securities arising from corporate actions such as stock splits be issued exclusively in dematerialized form. Consequently, physical certificates can no longer be used for transfer, transmission, or other corporate purposes.
Claiming Post-Split Entitlement
Shareholders holding physical certificates must now complete a specific process to claim their post-split shares and have them credited to their demat accounts. The company has outlined the necessary steps and documentation required to facilitate this transition.
Required Documentation
To process the claim, shareholders must submit the following documents to the Registrar and Share Transfer Agent (RTA), Bigshare Services Private Limited:
- Duly filled and signed Claim Form for release of shares.
- Form ISR-4, completed and signed by all joint holders if applicable.
- Self-attested photocopy of the existing (now invalid) physical share certificate(s).
- Self-attested copy of PAN Card for all shareholder(s).
- Self-attested copy of address proof (Aadhaar Card, Voter ID, Passport, or utility bill not older than 3 months).
- Original cancelled cheque leaf or bank passbook/statement showing name, account number, and IFSC code.
- Client Master List (CML) or Client Master Report of the demat account, attested by the Depository Participant (DP).
- Signature attestation by the bank as per Form ISR-2 format.
- Updated PAN/KYC/bank details registered using Form ISR-1, where required.
- Authorization/consent letter from all joint holders, in case of joint holdings.
- Succession Certificate, Legal Heir Certificate, or Transmission Form, in case of deceased shareholders.
Submission Process
Shareholders who do not currently hold a demat account must first open one with a DP registered with NSDL or CDSL. Once the account is active, they must obtain the Client Master List from their DP.
The complete set of documents must be submitted to the RTA at the following address:
Bigshare Services Pvt. Ltd. Office No 303, Sun Square Complex, Near Chakradhari Society Bus Stop, Girish Cold Drinks Cross Road, C.G. Road, Navrangpura, Ahmedabad-380009
Alternatively, submissions may be made through modes specified on the company's website. The company urges shareholders to complete this process at the earliest to ensure timely credit of entitlements.
What the Numbers Show
The sub-division ratio of 10:1 implies that for every single physical certificate held, the shareholder is entitled to ten new electronic shares. While the total value of the holding remains unchanged, the liquidity and tradability of the shares are enhanced by the lower face value. The strict requirement for demat conversion highlights the regulatory push towards eliminating paper-based ownership risks in Indian capital markets.
Historical Stock Returns for Gujarat Inject Kerala
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.59% | +0.85% | -16.27% | +30.41% | +376.00% | +3,866.67% |
How might the mandatory dematerialization of Gujarat Inject's shares impact trading volumes and liquidity for retail investors in the near term?
What are the potential compliance risks or penalties for shareholders who fail to convert their physical certificates within the stipulated timeline?
Could this regulatory enforcement signal a broader acceleration in SEBI's push to eliminate physical share certificates across the Indian equity market?




























