Yes, you can dematerialize shares that are under a lock-in period, but you need to specify the lock-in reason and release date in the dematerialization request form.

Dematerialization Process:

You'll need to submit separate dematerialization requests (using separate DRFs) for holdings in different ISINs (Click here for NSDL & Click here for CDSL to download a Dematerialization Request Form) and submit these with the physical shares at the nearest Axis Bank branch.

Lock-in Shares:

If the shares are under a lock-in period (e.g., ESOP, promoter shares), you need to indicate this in the DRF by ticking the "Locked-in-Securities" box.

Information Required:

You'll need to provide the quantity of shares, the lock-in reason, and the lock-in release date as per the share certificate.

Separate Requests:

Separate dematerialization requests should be filled for locked-in and free holdings.