Process For Transfer Of Unlisted Shares
Unlisted shares can be transferred through two modes i.e. off-line (or physical) and on-line (or electronic). The off-line mode includes manual execution and submission of the DIS (Delivery Instruction Slip) to the stock broker (DP), the on-line mode includes execution and submission of e-DIS (Electronic-Delivery Instruction Slip) and CDSL Easiest (Though NSDL, through it’s portal, does provide a facility to transfer the shares online, the process is very cumbersome and time consuming and could take many days for it to be given effect to and thus it is advisable for NSDL demat account holders to do it through the DIS).
- Delivery Instruction Slip (DIS) – The shares could be transferred through an instrument called a DIS (Delivery Instruction Slip), it is very similar to a cheque in the sense that the cheque enables the transferor to transfer the funds from his bank account to another, in similar manner, the DIS enables the transferor to transfer securities from his demat account to another, the only difference is that the DIS is required to be submitted and given to the transferor’s stock broker by the transferor. The DIS booklet is usually enclosed in the welcome kit at the time of opening of the demat account like it happens in case of the cheque book. In case you don’t have the DIS book, you may make an application to your stock broker, who will then arrange to issue it to you, please note that it may take a few days, maybe 7-10, for them to dispatch it to your address as is registered with them.
Note – You could also consider checking with your stock broker to see if they would issue loose/temporary DISs (Delivery Instruction Slips), (these are like loose cheques being available at a bank branch), to accommodate immediate transfer of shares, where the transferor doesn’t have the actual DIS book with them
- Electronic Delivery Instruction Slip (E-DIS) – As we speak, this facility is offered by selected stock brokers only, through their portal or an app, this is if they provide an e-DIS (an online) facility () for ‘off-market’ transfer of shares.
- CDSL Easiest – For this your demat account should be facilitated by CDSL. Easiest is an online facility powered by CDSL which enables the transfer of shares, the request for transfer of shares is submitted directly to the depository i.e. CDSL, however, you will have to check with your stock broker, if they are affiliated and support this facility.
Process For Transfer Of Unlisted Shares
- Delivery Instruction Slip (DIS) – The shares could be transferred through an instrument called a DIS (Delivery Instruction Slip), it is very similar to a cheque in the sense that the cheque enables the transferor to transfer the funds from his bank account to another, in similar manner, the DIS enables the transferor to transfer securities from his demat account to another, the only difference is that the DIS is required to be submitted and given to the transferor’s stock broker by the transferor. The DIS booklet is usually enclosed in the welcome kit at the time of opening of the demat account like it happens in case of the cheque book. In case you don’t have the DIS book, you may make an application to your stock broker, who will then arrange to issue it to you, please note that it may take a few days, maybe 7-10, for them to dispatch it to your address as is registered with them.
- Note – You could also consider checking with your stock broker to see if they would issue loose/temporary DISs (Delivery Instruction Slips), (these are like loose cheques being available at a bank branch), to accommodate immediate transfer of shares, where the transferor doesn’t have the actual DIS book with them
- Electronic Delivery Instruction Slip (E-DIS) – As we speak, this facility is offered by selected stock brokers only, through their portal or an app, this is if they provide an e-DIS (an online) facility () for ‘off-market’ transfer of shares.
- CDSL Easiest – For this your demat account should be facilitated by CDSL. Easiest is an online facility powered by CDSL which enables the transfer of shares, the request for transfer of shares is submitted directly to the depository i.e. CDSL, however, you will have to check with your stock broker, if they are affiliated and support this facility.