Live Prices

NSE India Limited (NSE Unlisted Shares) ₹1,925.00

Metropolitan Stock Exchange (MSEI unlisted share) ₹5.32

ORAVEL STAYS LIMITED (OYO Unlisted Shares) ₹23.50

Zepto Unlisted Shares (Equity) ₹32.00

Orbis Financial Corporation Limited (Orbis Unlisted Shares) ₹398.00

National Commodity & Derivatives Exchange Limited (NCDEX Unlisted Share) ₹377.00

CSK (Chennai Super Kings) ₹256.00

Onix Renewable Limited (Onix Unlisted Share) ₹52.00

Garuda Aerospace Limited (Garuda Unlisted Share) ₹430.00

Hinduja Leyland Finance Limited ₹238.00

Nayara Energy Limited (Formerly Essar Oil) ₹1,050.00

Capgemini Technology Services India Limited ₹11,250.00

Indofil Industries Limited ₹1,475.00

Absolute Projects (India) Limited ₹76.00

SBI General Insurance Company Limited ₹1.00

Infobay Ai Limited ₹3.00

Polymatech Electronics Limited ₹58.00

GFCL EV Products Limited ₹41.00

Sterlite Grid 5 ₹334.00

Sterlite Electric Limited (formerly Sterlite Power) ₹498.00

Power Exchange India Limited (PXIL) ₹535.00

HDFC Securities Limited ₹8.00

Goodluck Defence And Aerospace ₹394.00

Ticker Limited ₹29.00

Incred Holdings Limited ₹158.00

Maverick Simulation Solutions Limited ₹2.00

Transline Technologies Limited ₹124.00

Roots Multiclean Limited ₹4.00

Razorpay Software Limited ₹0.00

NCL Buildtek Limited (Previously NCL Alltek & Seccolor Limited) ₹172.00

Fusion Techstack Limited (Formerly Indian Commodity Exchange Limited) ₹2.60

Fino Paytech Limited ₹110.00

PhonePe Limited ₹0.00

Gamma Rotors Limited ₹142.00

Anugraha Valve Castings Limited ₹595.00

Thalappakatti Hotels Private Limited ₹120.00

Carrier Airconditioning & Refrigeration Limited ₹515.00

Cremica Food Industries Limited ₹0.00

E Trav Tech Limited ₹0.00

Arohan Financial Services Limited ₹235.00

LAVA International Limited ₹60.00

Hindustan Power Exchange Limited (HPX India) ₹25.01

NSE India Limited (NSE Unlisted Shares) ₹1,925.00

Metropolitan Stock Exchange (MSEI unlisted share) ₹5.32

ORAVEL STAYS LIMITED (OYO Unlisted Shares) ₹23.50

Zepto Unlisted Shares (Equity) ₹32.00

Orbis Financial Corporation Limited (Orbis Unlisted Shares) ₹398.00

National Commodity & Derivatives Exchange Limited (NCDEX Unlisted Share) ₹377.00

CSK (Chennai Super Kings) ₹256.00

Onix Renewable Limited (Onix Unlisted Share) ₹52.00

Garuda Aerospace Limited (Garuda Unlisted Share) ₹430.00

Hinduja Leyland Finance Limited ₹238.00

Nayara Energy Limited (Formerly Essar Oil) ₹1,050.00

Capgemini Technology Services India Limited ₹11,250.00

Indofil Industries Limited ₹1,475.00

Absolute Projects (India) Limited ₹76.00

SBI General Insurance Company Limited ₹1.00

Infobay Ai Limited ₹3.00

Polymatech Electronics Limited ₹58.00

GFCL EV Products Limited ₹41.00

Sterlite Grid 5 ₹334.00

Sterlite Electric Limited (formerly Sterlite Power) ₹498.00

Power Exchange India Limited (PXIL) ₹535.00

HDFC Securities Limited ₹8.00

Goodluck Defence And Aerospace ₹394.00

Ticker Limited ₹29.00

Incred Holdings Limited ₹158.00

Maverick Simulation Solutions Limited ₹2.00

Transline Technologies Limited ₹124.00

Roots Multiclean Limited ₹4.00

Razorpay Software Limited ₹0.00

NCL Buildtek Limited (Previously NCL Alltek & Seccolor Limited) ₹172.00

Fusion Techstack Limited (Formerly Indian Commodity Exchange Limited) ₹2.60

Fino Paytech Limited ₹110.00

PhonePe Limited ₹0.00

Gamma Rotors Limited ₹142.00

Anugraha Valve Castings Limited ₹595.00

Thalappakatti Hotels Private Limited ₹120.00

Carrier Airconditioning & Refrigeration Limited ₹515.00

Cremica Food Industries Limited ₹0.00

E Trav Tech Limited ₹0.00

Arohan Financial Services Limited ₹235.00

LAVA International Limited ₹60.00

Hindustan Power Exchange Limited (HPX India) ₹25.01

Indicative Price

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Thalappakatti Hotels Private Limited

Hospitality & Tourism

Unlisted

₹120.00

INE01GJ01023

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Unlisted Shares, Pre IPO & ESOP: Investing in Unlisted Companies with Heed Unlisted

The Indian investment landscape has expanded significantly beyond traditional stocks listed on the NSE and BSE. Today, investors are increasingly exploring Unlisted Shares, Pre IPO investments, and ESOP opportunities to gain exposure to companies before they become publicly listed or to participate in private companies with strong growth potential.

Unlisted Shares are equity shares of companies that are not currently listed on a recognized stock exchange. Pre IPO shares are shares of companies that are preparing or considering an Initial Public Offering (IPO), while ESOP shares are employee stock options or shares offered to employees as part of an employee ownership or incentive programme.

For investors looking beyond conventional listed equities, Unlisted Shares, Pre IPO and ESOP investments can provide opportunities to participate in businesses at an earlier stage of their growth journey. However, these investments can also involve lower liquidity, limited information compared with listed companies, and higher investment risk.

Understanding Unlisted Shares

Unlisted Shares are shares of a company that are not traded on a recognized stock exchange such as the NSE or BSE. These shares represent ownership in a company, just like listed shares, but they are generally bought and sold through private transactions rather than through a regular stock exchange.

Companies may remain unlisted for several reasons. A business may be privately held, may not yet have completed an IPO, or may simply choose to operate as an unlisted company.

Investing in Unlisted Shares allows investors to gain exposure to companies before they potentially enter the public markets. Some well-known businesses raise capital from private investors for years before considering a stock market listing.

The valuation of Unlisted Shares is generally determined through private transactions, company valuations, financial performance, demand and supply, funding rounds, and other factors. Unlike listed shares, there may not be a continuously available market price.

Understanding Pre IPO Investment

Pre IPO investment refers to investing in a company before it launches its Initial Public Offering. A company planning an IPO may raise capital from existing shareholders, private investors, institutions or other eligible investors before its shares become available to the broader public through a stock exchange.

Pre IPO Shares can attract investors because they provide an opportunity to participate in a company before a potential stock market listing.

However, buying Pre IPO Shares does not guarantee that the company will successfully launch an IPO or that its valuation will increase after listing. IPO plans can be delayed, modified or cancelled, and market conditions can affect the eventual listing price.

Therefore, investors considering Pre IPO investment should evaluate the company’s business model, financial performance, valuation, industry outlook, management quality and potential risks.

Understanding ESOP with Heed Unlisted

ESOP stands for Employee Stock Option Plan. Companies use ESOPs to provide employees with an opportunity to acquire an ownership interest in the company, usually subject to specific terms and conditions.

ESOPs are commonly used by startups, technology companies and growing businesses to attract, retain and reward employees. Instead of receiving only a salary, eligible employees may receive stock options that can potentially become shares of the company.

The terms of an ESOP can include a vesting period, exercise price, eligibility requirements and other conditions.

From an investment perspective, ESOP Shares can sometimes become available for transactions when employees or existing shareholders are permitted to sell their holdings. Such transactions may provide investors with access to companies that are otherwise difficult to invest in.

However, ESOP investments require careful evaluation because the rights, transferability, valuation and transaction conditions can vary significantly from one company to another.

Difference Between Unlisted Shares, Pre IPO and ESOP

Although Unlisted Shares, Pre IPO and ESOP can all provide access to privately held companies, they are not the same type of investment.

Unlisted Shares vs Pre IPO

Unlisted Shares are shares of companies that are not currently listed on a stock exchange. The company may or may not have plans for an IPO.

Pre IPO Shares, on the other hand, specifically relate to a company that is preparing for or considering an IPO. Therefore, every Pre IPO share is generally unlisted before the IPO, but not every Unlisted Share is a Pre IPO share.

For example, an established private company may remain unlisted for many years without having an immediate IPO plan. Its shares can still be classified as Unlisted Shares.

Unlisted Shares vs ESOP

Unlisted Shares describe the listing status of the company’s shares, whereas ESOP describes a mechanism through which employees receive stock options or an ownership opportunity.

An ESOP can therefore exist in an unlisted company. When ESOPs are exercised and shares are issued, those shares may be unlisted if the company itself is unlisted.

Pre IPO vs ESOP

Pre IPO Shares are associated with investing before a potential public listing, whereas ESOPs are primarily designed as an employee compensation and ownership mechanism.

An investor purchasing shares that originated from an employee’s ESOP holdings may be investing in an unlisted company, but the investment itself is different from receiving an ESOP directly as an employee.

Unlisted Shares, Pre IPO & ESOP: Key Differences

Feature	Unlisted Shares	Pre IPO	ESOP

Meaning

Shares not listed on a stock exchange

Shares of a company before potential IPO

Employee stock options/ownership plan

Primary Participants

Private investors/shareholders

Investors

Employees

Stock Exchange Listing

Not listed

Not listed before IPO

Usually depends on the company

IPO Connection

May or may not have an IPO plan

Generally linked to a potential IPO

Not necessarily linked to an IPO

Liquidity

Generally lower than listed shares

Generally lower before listing

Subject to company/ESOP terms

Valuation

Private-market valuation

Pre-listing/private valuation

Exercise price and company valuation

Risk

Can be higher than listed equities

Subject to IPO and market risks

Subject to vesting, transfer and company terms

Benefits of Investing in Unlisted Shares

Investing in Unlisted Shares can offer several potential benefits when undertaken after proper research and due diligence.

Early Access to Growing Companies

One of the major attractions of Unlisted Shares is the opportunity to invest in companies before they potentially become publicly listed. Investors may gain exposure to businesses during their expansion phase.

Potential for Long-Term Capital Appreciation

If an unlisted company performs strongly and its valuation increases, shareholders may potentially benefit from capital appreciation. However, returns are not guaranteed and depend on the company’s future performance and market conditions.

Portfolio Diversification

Unlisted Shares Investment can provide exposure to companies and sectors that may not be adequately represented in an investor’s existing portfolio. This can potentially complement traditional listed equity investments.

Access to Private Market Opportunities

The private market includes established companies, emerging businesses, startups and businesses preparing for public offerings. Unlisted Shares can provide investors with access to opportunities outside conventional stock-market investments.

Benefits of Pre IPO Investment

Pre IPO investment can offer investors an opportunity to participate in a company before its potential public listing.

If a company successfully completes an IPO and performs well after listing, early investors may potentially benefit from an increase in the value of their holdings. However, investors should never assume that a Pre IPO investment will automatically generate listing gains.

A company may experience changing valuations, market volatility, regulatory requirements or delays before an IPO.

Benefits of ESOP Investment

ESOP investments can provide access to shares of companies that may otherwise have limited availability in the private market.

For eligible employees, ESOPs can align employee incentives with company growth. For permitted secondary-market transactions, investors may potentially gain exposure to businesses through shares originally issued under employee stock option programmes.

The exact benefits and risks depend on the company’s ESOP structure, share terms, valuation and transfer restrictions.

Why Consider Unlisted Shares, Pre IPO & ESOP Investments?

The primary attraction of Unlisted Shares, Pre IPO and ESOP investments is the opportunity to participate in companies before they become widely accessible through public stock exchanges.

Investors may consider these investments for:

Early-stage or pre-listing exposure
Potential long-term capital appreciation
Portfolio diversification
Access to private-market opportunities
Exposure to high-growth businesses
Potential participation in companies preparing for an IPO

At the same time, investors should understand that Unlisted Shares generally have lower liquidity than listed stocks. Finding a buyer may take time, valuations may not be transparent, and there may be restrictions on transferring shares. Investors should conduct appropriate due diligence and consider their risk tolerance before investing.

Heed Unlisted – Platform for Unlisted Shares, Pre IPO & ESOP Investments

Heed Unlisted is a platform focused on providing investors access to opportunities in Unlisted Shares, Pre IPO and ESOP investments.

Through its platform, Heed Unlisted aims to simplify the process of exploring private-market investment opportunities by providing information related to companies, valuations and available investment opportunities.

Investors looking to Buy Unlisted Shares, explore Pre IPO Shares, or understand ESOP Shares can use Heed Unlisted to research available opportunities and make informed investment decisions.

The platform can be useful for investors who want to explore investment opportunities beyond traditional listed stocks and understand the private-market ecosystem.

Buy Unlisted Shares, Pre IPO & ESOP with Due Diligence

Before you Buy Unlisted Shares or invest in Pre IPO or ESOP opportunities, it is important to evaluate the company carefully. Investors should consider factors such as revenue growth, profitability, debt, business model, industry outlook, management, valuation, shareholding structure and potential exit opportunities.

Unlike listed stocks, Unlisted Shares may not have a readily available market for buying and selling. Therefore, liquidity and exit strategy should be important considerations.

Investors should also understand all applicable transaction terms, taxation, regulatory requirements, lock-ins and transfer restrictions before completing an investment.

Exploring Unlisted Shares, Pre IPO & ESOP Opportunities

Unlisted Shares, Pre IPO and ESOP investments represent different ways of accessing companies outside the conventional listed stock market.

Unlisted Shares provide ownership in companies that are not listed on stock exchanges. Pre IPO Shares provide an opportunity to invest before a potential IPO, while ESOPs are primarily employee-oriented stock options or ownership arrangements.

For investors with a suitable risk profile and a long-term investment approach, these opportunities can potentially provide diversification and exposure to businesses before they reach the broader public market.

However, Unlisted Shares Investment is not risk-free. Lower liquidity, valuation uncertainty, limited public information and company-specific risks should be carefully considered.

For investors interested in exploring Unlisted Shares, Pre IPO and ESOP opportunities, Heed Unlisted provides a platform to discover and research private-market investment opportunities and take a more informed approach to investing beyond traditional listed equities.

Disclaimer: Investments in unlisted securities, Pre IPO opportunities and ESOP-related transactions involve risks, including liquidity, valuation and market risks. Past or projected company performance does not guarantee future returns. Investors should conduct independent due diligence and seek professional financial, legal and tax advice where appropriate before investing.

List of Unlisted, ESOP & Pre IPO shares available with HEED UNLISTED

NSE India Limited unlisted shares, Metropolitan Stock Exchange (MSEI) unlisted shares, ORAVEL STAYS LIMITED (Oyo Unlisted Shares) unlisted shares, Zepto (Equity) unlisted shares, Orbis Financial Corporation Limited unlisted shares, National Commodity & Derivatives Exchange (NCDEX) Limited unlisted shares, CSK (Chennai Super Kings) unlisted shares, Onix Renewable Limited unlisted shares, Garuda Aerospace Limited unlisted shares, Hinduja Leyland Finance Limited unlisted shares, Nayara Energy Limited (Formerly Essar Oil) unlisted shares, Capgemini Technology Services India Limited unlisted shares, Indofil Industries Limited unlisted shares, Absolute Projects (India) Limited unlisted shares, SBI General Insurance Company Limited unlisted shares, Infobay Ai Limited unlisted shares, Polymatech Electronics Limited unlisted shares, GFCL EV Products Limited unlisted shares, Sterlite Grid 5 unlisted shares, Sterlite Electric Limited (formerly Sterlite Power) unlisted shares, Power Exchange India Limited (PXIL) unlisted shares, HDFC Securities Limited unlisted shares, Goodluck Defence And Aerospace unlisted shares, Ticker Limited unlisted shares, Incred Holdings Limited unlisted shares, Maverick Simulation Solutions Limited unlisted shares, Transline Technologies Limited unlisted shares, Roots Multiclean Limited unlisted shares, Razorpay Software Limited unlisted shares, NCL Buildtek Limited (Previously NCL Alltek & Seccolor Limited) unlisted shares, Fusion Techstack Limited (Formerly Indian Commodity Exchange Limited) unlisted shares, Fino Paytech Limited unlisted shares, PhonePe Limited unlisted shares, Gamma Rotors Limited unlisted shares, Anugraha Valve Castings Limited unlisted shares, Thalappakatti Hotels Private Limited unlisted shares, Carrier Airconditioning & Refrigeration Limited unlisted shares, Cremica Food Industries Limited unlisted shares, E Trav Tech Limited unlisted shares, Arohan Financial Services Limited unlisted shares, LAVA International Limited unlisted shares, Hindustan Power Exchange Limited (HPX India) unlisted shares

All unlisted & pre-IPO shares

Incred Holdings Limited

Maverick Simulation Solutions Limited

Transline Technologies Limited

Roots Multiclean Limited

Razorpay Software Limited

NCL Buildtek Limited (Previously NCL Alltek & Seccolor Limited)

Fusion Techstack Limited (Formerly Indian Commodity Exchange Limited)

Fino Paytech Limited

PhonePe Limited

Gamma Rotors Limited

Anugraha Valve Castings Limited