How to Sell Unlisted Shares — Easiest & SPEED-e

The DIS method works well, but it involves physical paperwork and a visit to your broker's branch. If you prefer a fully online process — faster, paperless, and available any time — you can use the portals operated by CDSL and NSDL directly.

CDSL's portal is called Easiest. NSDL's portal is called SPEED-e. Both allow you to initiate transfers entirely online, without any physical DIS slip.

The key steps for any seller — regardless of method — remain the same:

1. Pay stamp duty.
2. Add the buyer as a beneficiary and verify via OTP.
3. Initiate the off-market transfer.

This chapter covers both portals in detail, with separate walkthroughs for CDSL and NSDL users.

Which portal should you use? Use CDSL Easiest (easiest.cdsl.in) if your Demat is with Zerodha, Groww, Angel One, or Upstox. Use NSDL SPEED-e (nsdlspeed-e.com) if your Demat is with HDFC Securities, Kotak Securities, or ICICI Direct. Check your broker app or welcome email if unsure — it will clearly say CDSL or NSDL.

Part A: Selling via CDSL Easiest Complete Walkthrough

Step 1 — Pay Stamp Duty First

Before you do anything on the Easiest portal, pay your stamp duty. The current rate is 0.015% of the total consideration amount.

CDSL Stamp Duty Payment — Bank Account Details
Transfer stamp duty to the following account before initiating the DIS:

Account Name: CENTRAL DEPOSITORY SERVICES INDIA LTD
Bank: ICICI BANK
Account Number: CDSD followed by your 16-digit Demat account number
IFSC Code: ICIC0000104

Example: If your 16-digit Demat number is 1234567890123456, your account number is CDSD1234567890123456

Transfer the calculated stamp duty amount to this ICICI Bank account. Keep the UTR number from the transfer — you may need to reference it. CDSL reconciles stamp duty against your Demat number, which is built into the account number.

Step 2 — Register on CDSL Easiest (One-Time)

If you have never used Easiest before, registration is required once.

1. Go to easiest.cdsl.in and click Register.
2. Enter your 16-digit BO ID — your DP ID (8 digits) followed by Client ID (8 digits). Find it in your broker app or Demat account statement.
3. Enter your PAN and date of birth for identity verification.
4. Create a login ID and password.
5. Your broker's DP must approve your registration. Some brokers approve instantly; others take 1 to 2 business days. You will receive an SMS or email confirmation.
6. Once approved, log in and set your Transaction PIN (T-PIN) — a separate PIN used to authorise every transfer.

Step 3 — Add the Buyer as a Beneficiary

1. Log in to easiest.cdsl.in.
2. Navigate to Beneficiary Management and click Add Beneficiary.
3. Enter the buyer's 16-digit BO ID (their DP ID + Client ID).
4. An OTP will be sent to your registered mobile number. Enter it to confirm the beneficiary addition.
5. CDSL approves new beneficiaries within 24 hours as a security measure. You will receive a confirmation once approved.

OTP Step — Important: The OTP for beneficiary addition is sent to the mobile number registered with your Demat account. If your registered number has changed or you are not receiving OTPs, contact your broker to update it before attempting any transfer. The OTP typically expires within a few minutes.
Step 4 — Initiate the Off-Market Transfer

1. Once the beneficiary is approved, go to Transaction and select Off-Market Transfer.
2. Select the approved buyer from your beneficiary list.
3. Enter the ISIN of the unlisted company, number of shares, consideration amount (total sale value), and transfer date.
4. Review all details carefully — especially ISIN and share quantity.
5. Enter your T-PIN to authorise the transaction.
6. Submit. Note the transaction reference number and save it.

Settlement: CDSL processes the transfer and shares are debited from your Demat and credited to the buyer's Demat within T+1 business day. Track the status under Transaction Status on the Easiest portal.

CDSL Easiest — Full Process Summary

Part B: Selling via NSDL SPEED-e — Complete Walkthrough

Step 1 — Calculate and Pay Stamp Duty First

Just like CDSL users, NSDL Demat holders must pay stamp duty before initiating any transfer.

NSDL Stamp Duty Payment — How to Calculate & Pay
Current stamp duty rate: 0.015% of the total consideration amount
Formula: Stamp Duty = Total Sale Value x 0.00015
Example: If you sell shares worth Rs. 1,00,000 — stamp duty = Rs. 1,00,000 x 0.00015 = Rs. 15

Use the official NSDL stamp duty calculator to calculate your exact amount before payment:
nsdl.co.in/stampduty_calculator.php

Use the NSDL calculator to get the exact stamp duty amount, then pay as directed by NSDL or your broker. Keep proof of payment.

Step 2 — Register on NSDL SPEED-e (One-Time)

1. Go to nsdlspeed-e.com and click Register.
2. Select Individual BO (Beneficial Owner) as your account type.
3. Enter your DP ID and Beneficiary ID — available from your broker app or Demat account statement.
4. Enter your PAN and bank account details for verification.
5. Create your login credentials.
6. Your Depository Participant must approve the registration — typically 1 to 2 business days. You will be notified by email or SMS.
7. After approval, log in and set your MPIN — the transaction authorisation PIN used for every transfer.

Step 3 — Add the Buyer as a Counter Party

1. Log in to nsdlspeed-e.com.
2. Navigate to Counter Party Management and click Add Counter Party.
3. Enter the buyer's DP ID and Beneficiary ID. If the buyer is on CDSL, enter their 16-digit BO ID.
4. An OTP will be sent to your registered mobile number. Enter it to confirm the addition.
5. NSDL approves new counterparties within 24 hours. You will receive a confirmation once approved.

Step 4 — Initiate the Off-Market Transfer

1. Once the counterparty is approved, go to Transaction and select Off-Market Transfer.
2. Select the approved buyer from your counterparty list.
3. Enter the ISIN, number of shares, consideration amount, and execution date.
4. Review all details carefully.
5. Enter your MPIN to authorise the transfer.
6. Submit and note the transaction reference number.

Inter-Depository Transfers: If you are on NSDL and the buyer is on CDSL — or vice versa — the transfer still works. Both portals support inter-depository transfers. Just enter the buyer's correct depository details and the system routes it accordingly. Inter-depository transfers may take one additional business day to settle.

NSDL SPEED-e — Full Process Summary

DIS vs Easiest vs SPEED-e — Which Should You Use?

Security Reminder: Never share your Easiest or SPEED-e login credentials, T-PIN, or MPIN with anyone — including your broker, intermediary, or platform. Legitimate buyers and intermediaries do not need your portal login to facilitate a transfer. You initiate the transfer yourself; they only provide the buyer's Demat details.

Key Takeaways

• As the seller, you must always complete three steps before a transfer: pay stamp duty, add buyer as beneficiary or counterparty (with OTP verification), then initiate the off-market transfer.
• Stamp duty rate is 0.015% of the total sale value — applies to both CDSL and NSDL sellers.
• CDSL: Pay stamp duty to ICICI Bank account CDSD[your 16-digit Demat number], IFSC: ICIC0000104.
• NSDL: Use the stamp duty calculator at nsdl.co.in/stampduty_calculator.php to calculate and pay.
• OTP on your registered mobile is required every time you add a new beneficiary or counterparty.
• New beneficiaries and counterparties take up to 24 hours for depository approval — plan ahead.
• Always select Off-Market Transfer for unlisted share transactions.
• Never share your portal login or transaction PIN with anyone.