Share Transfer.
A transfer of physical shares is executed on Form SH-4, the securities transfer form, which is stamped, signed by both parties and lodged with the company; it is not filed with the Registrar. The board approves the transfer under the articles and the register of members is updated. Private companies covered by the demat rule must dematerialise shares first and transfer them through depository participants.
Typically 5–10 working days after the parties sign, depending on stamping, board meeting scheduling and any valuation. Transfers involving non-residents take longer because of bank and FEMA reporting steps.
A partner — a chartered accountant or company secretary — from the first call to sign-off.
Based on your situation, and fixed in writing before any work starts.
Is this for you?
- Shareholders selling or gifting shares in a private or unlisted public company
- Founders and early investors restructuring holdings or exiting
- Companies processing transfers subject to pre-emption rights in a shareholders' agreement
- Transfers between residents and non-residents that need FEMA reporting
What you receive at the end.
- 01Drafted SH-4 and board resolution approving the transfer
- 02Endorsed or new share certificate, or confirmation of the demat transfer
- 03Updated register of members and cap table
- 04FEMA filings coordinated, where applicable
Share Transfer, step by step.
Typically 5–10 working days after the parties sign, depending on stamping, board meeting scheduling and any valuation. Transfers involving non-residents take longer because of bank and FEMA reporting steps.
- 1
Restrictions review
We check the articles and any shareholders' agreement for pre-emption rights, consents and lock-ins that apply to the transfer.
- 2
Price and valuation
We check the price against fair value requirements under income-tax and FEMA rules, and arrange a valuation where needed.
- 3
Execution and lodging
Both parties sign the stamped SH-4, which is delivered to the company with the share certificate within 60 days of execution.
- 4
Board approval
The board approves the transfer, and the company issues the endorsed or new certificate within one month of receiving the instrument.
- 5
Registers and reporting
We update the register of members, beneficial ownership records where relevant and FC-TRS for non-resident transfers; the transfer is reported in your next annual return.
What we need from you.
Don't have everything yet? We send a short checklist after the first call and work with what you have.
- Original share certificate(s)
- SH-4 signed by transferor and transferee, duly stamped
- PAN and address details of both parties
- Valuation report, where pricing must be supported
- Consents or waivers from other shareholders under the articles or shareholders' agreement
- Demat account details, where the shares are held in demat form
The fee depends on your situation. After a short call, the partner who will do the work tells you what's involved and gives you a fixed fee in writing — before any work begins.
- Government fees and statutory charges are billed at actuals.
- When you pay — upfront, in stages or on completion — is agreed in writing with the fee.
Questions about Share Transfer.
Ready to discuss Share Transfer?
30-minute confidential call — no proposal, no commitment. A partner will write back within one business day.