The correct matches are: Equity shares → Fluctuating rate of dividend; Operation of law → Transmission of shares; Debenture certificate → Issued within 6 months of allotment; Dematerialization → Physical to electronic mode; Bombay Stock Exchange → Oldest stock exchange in India.

Explanation of each pair:

• Equity shares carry dividend at a fluctuating (variable) rate that depends on profits, unlike preference shares which get a fixed rate.
• Operation of law causes transmission of shares (for example on the death or insolvency of a member), as against transfer which is a voluntary act.
• A Debenture certificate must be issued within six months of the allotment of debentures.
• Dematerialization is the conversion of securities from physical (paper) mode to electronic mode. …