Guide to unlisted shares
Everything below is informational only, not investment advice.
What are unlisted shares?
Shares of a company that isn't listed on a stock exchange yet — you hold them the same way, in your demat account, but they trade privately, off-exchange, between individual buyers and sellers.
Why is there no real-time price or instant checkout?
SEBI only permits stock brokers to deal on recognized exchanges. DealRail is a deal desk, not an exchange — every price shown is an indicative reference, and every transaction is a one-off negotiated deal assembled by the deal desk, never an automated match.
What happens after I submit an enquiry?
The deal desk reviews it and reaches out, usually within one business day, to discuss indicative price and quantity. Submitting an enquiry isn't an order and doesn't commit you to anything.
What does "issuer consent" mean for a transfer?
Since NSDL's August 2025 circular, a private company's shares can't be transferred in demat form without the issuing company's own signed consent letter. That's a mandatory step in every deal — it can't be skipped.
How does escrow work?
The buyer's payment is held by a licensed, independent third-party escrow provider — DealRail never holds your funds directly. Money is released to the seller once the share transfer is confirmed.
How do shares actually move to my demat account?
Via an off-market NSDL/CDSL demat-to-demat transfer, initiated by the buyer and seller once escrow is funded and issuer consent is received.
Are unlisted shares easy to sell later?
Not necessarily. Unlisted shares can be illiquid — there may not always be a ready buyer at a given price, and finding one can take time.