Public offers of securities to be in dematerialised form :

According to section 29 of the Companies Act, 2013 public company making public offer and such other class or classes of companies as may be prescribed, shall issue the securities only through dematerialized form. The provision says –

(1) Issue of securities in dematerialized form: According to the provisions (a) every company making public offer; and (b) such other class or classes of public companies as may be prescribed, shall issue the securities only in dematerialised form by complying with the provisions of the Depositories Act, 1996 and the regulations made thereunder.

(2) In case of other companies: Whereas other companies, may convert its securities into dematerialised form or issue its securities in physical form in accordance with the provisions of this Act or in dematerialised form in accordance with the provisions of the Depositories Act, 1996 and the regulations made thereunder.