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Intermediate

Understanding Pre IPO Investing and Unlisted Shares

A practical guide to buying and holding shares of Indian companies before they list, built for investors who already understand listed equity and now want exposure to the unlisted market. Learn what pre-IPO and unlisted shares actually are, why Indian unicorns are staying private for longer, and how the informal grey market differs from the more formal unlisted-share ecosystem. Go deep on the actual mechanics of access: ESOP secondary sales, pre-IPO placements, dealer platforms, and the SEBI and Companies Act boundaries that govern all of it, plus the red flags that separate a legitimate deal from a scam. Finish with how to actually value a company with no listed market price, how cap tables and dilution affect your stake, how these shares are taxed in India, and the real exit routes once you're in.

Pre-IPO InvestingUnlisted SharesIlliquidity Risk

MODULES

4

DURATION

~2 hrs

TRACK

Alternative Investing

What You'll Master

Tell a legitimate unlisted-share deal apart from a grey market trap

Value a company that has no listed market price to anchor on

Know how unlisted shares are taxed in India and what your real exit routes are

Access Level

LEARNER

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Everything included

Full Text Playbooks

Actionable Exercises

Mobile Reading Mode

Lifetime Updates

Curriculum Breakdown

Chapter 1: The Unlisted Market — What It Is and How It Works

3 Lessons

What Are Pre-IPO and Unlisted Shares10 min read

Why Indian Unicorns Are Staying Private for Longer12 min read

Grey Market vs the Formal Unlisted Market: What Actually Separates Them11 min read

Chapter 2: How to Actually Buy and Sell Unlisted Shares in India

3 Lessons

The Main Routes to Access Unlisted Shares: ESOPs, Placements and Dealer Platforms13 min read

SEBI and Companies Act Boundaries Every Unlisted-Share Buyer Should Know13 min read

Red Flags and Scams: Why Liquidity Is the Core Risk11 min read

Chapter 3: Valuing a Company With No Market Price

2 Lessons

Cap Tables, Funding Rounds and Dilution Explained12 min read

Valuation Approaches When There's No Listed Price to Anchor On13 min read

Chapter 4: Taxation and Exit Routes

2 Lessons

How Unlisted Shares Are Taxed in India12 min read

Exit Routes: IPO Listing, Buybacks and Secondary Sales11 min read