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How to transfer shares from a Zerodha demat account to another demat account offline?

As per CDSL's circular (WEB), to prevent incorrect transfers, all off-market transfers will be processed only if the sender (transferor) of the securities adds the receiver's (transferee’s) demat account as a beneficiary on CDSL. To learn how to add a beneficiary on CDSL, see How to add a beneficiary on CDSL to transfer securities?

To transfer shares from a Zerodha demat account to another demat account offline, follow these steps:

  1. Submit the Delivery Instruction Slip (DIS) to the below address:

    Zerodha,
    153/154, 4th Cross, J.P Nagar 4th Phase,
    Opp. Clarence Public School,
    Bengaluru - 560078

  2. Once Zerodha receives the DIS slip, the transfer request is verified over a call or an email for security purposes. If the transfer value is greater than ₹5 lakhs, a video verification of all the account holders is required. This call or email is done within 48 working hours of receiving the documents. The transfer request will only be processed after the verification is successful.
  3. If Annexure A is sent to add the beneficiary, an email will be sent to the sender to verify the beneficiary details for off-market transactions.

To verify the beneficiary details, follow these steps:

  1. Click on the link received in the email.
  2. Enter PAN and Demat Account No. The demat account number is the 16-digit ID. To learn how to find the demat ID, see What are DP name, DP ID, BO ID and demat ID?
  3. Click on Submit.
  4. Tick on the beneficiary details and click on Generate OTP.
  5. Enter the OTP and click on Accept.
  6. Click on OK.

4. A link to the CDSL website and an OTP will be sent to the registered mobile number and email ID. Enter the OTP before 8 PM on the executed date.


To prevent rejection of the share transfer, follow these guidelines:

  • Do not sell shares that are being transferred before the approval of DIS execution. In rare cases, the sale transaction may not be rejected and can go to auction. In these cases, auction charges are to be borne by the client.
  • Ensure the trading account has the required fund balance.
  • Provide the NSDL CMR copy if the reason for transferring is selected as Transfer to own account(s).
  • Countersign if any corrections or overwriting were made.

Transfer charges of 0.03% of turnover or ₹25 per ISIN, whichever is higher + 18% GST is applicable. The charges are applicable even if the OTP is not entered from the client's end.

Off-market sale

Direct transfer from one demat account to another demat account is called off-market transfer. The reasons for making an off-market transfer are mentioned in this document (PDF).

To make an off-market sale, submit the filled DIS slip along with the details of the transferee's payment bank (the person receiving the shares). If the DIS booklet was issued before Feb 2021, fill in the payment bank details in the Annexure for the DIS slip (PDF) and submit it to:

Zerodha,
153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru - 560078

Stamp duty is applicable as per the slab mentioned in this document (PDF). To learn how to get and fill out the DIS, see How to get a Delivery Instruction Slip (DIS) booklet? And How to fill a Delivery Instruction Slip (DIS)? A maximum of 5 securities (ISINs) can be transferred per DIS. Use the DIS Annexure form (PDF) to transfer more than 5 securities.

The charges to transfer shares in an off-market transaction are 0.03% of the transfer value or ₹25 per ISIN, whichever is higher, + 18% GST. Clients must maintain the required balance for the charges to be debited.

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