Unlisted shares, handled person to person

Unlisted shares are shares of companies that are not listed on a recognised stock exchange such as NSE or BSE. They include shares of companies that may list in future (often called pre-IPO shares), shares held by employees under ESOPs, and shares of companies that have chosen not to list or have been delisted. They change hands privately, off-market, between a buyer and a seller.

Yes. Shares of an unlisted public company can be transferred between a willing seller and a willing buyer, subject to the Companies Act, the company's articles and applicable law. What SEBI has cautioned investors against (press releases of December 2024 and June 2026) is transacting on electronic platforms and websites that are not authorised or recognised by SEBI. PCJ Holdings does not operate any such platform; every request is handled person-to-person by our team.

In dematerialised form, by an off-market transfer into the demat account that is in your own name. You can see the credit in your demat statement, and the ISIN of the company appears in your holdings.

There is no exchange price for unlisted shares. The price is negotiated between buyer and seller and can differ from one dealer to another and from one day to the next. We tell you the price for your quantity when you enquire, and it is recorded in a written deal confirmation before you pay.

It depends on the company and the lot available at the time. Our team will tell you the minimum for the specific share when you enquire.

You can ask us. Tell us the company, quantity and whether the shares are already in demat form, and our team will tell you whether we can help and on what terms. A sale depends on a buyer being available; it is not assured.

If the company lists, your shares become listed shares in the same demat account. Under SEBI's issue rules, pre-IPO shares held by persons other than promoters are generally locked in for six months from the date of allotment in the IPO, subject to certain exceptions, so you may not be able to sell on listing day. A listing may also never happen, or the listing price may be lower than the price you paid.

As generally understood for FY 2026-27, gains on unlisted shares held for more than 24 months are long-term and taxed at 12.5% without indexation; gains on shares held for 24 months or less are short-term and taxed at your income-tax slab rate. Tax rules change and individual cases differ, so please confirm with your chartered accountant. PCJ does not give tax advice.

No. PCJ Holdings does not recommend any unlisted share, does not publish research or price targets on them and does not promise any return. You decide what to buy or sell after doing your own due diligence.

No. These transactions are not executed on NSE or BSE. They are not covered by the exchange settlement guarantee, the investor protection fund, or the exchange investor grievance and arbitration mechanism.