Share certificates bear special significance in corporate and financial law because they are legal proof of ownership of shares in a company. The names of shareholders, the number of shares held, distinctive share numbers, and the date of issue are printed on them. It has often been given in paper form; however, electronic issuance (demat) is now gradually becoming popular.
As per the Companies Act 2013, a share certificate is prima facie evidence of shareholding; therefore, the holder of such a certificate is entitled to receive dividends on the shares, attend voting meetings of the company, and transfer those shares.
A share certificate is not just a record of investment; instead, it particularly safeguards those ownership rights. In this respect, it is immensely important for listed and unlisted companies alike to maintain transparency, accountability, and faith with their shareholders.
What is a Share Certificate?
The first of the main property rights a shareholder enjoys is the possession of share certificates. A share certificate is a formal legal document issued by a company to its shareholder in proof of the latter’s ownership of a certain number of shares in the company. It is tangible proof of possession of shares by the person named in the certificate. Traditionally, share certificates were produced in paper form, signed by authorised signatories on behalf of the company, usually directors or company secretaries. Normally, it contains the shareholder’s name, folio number identifying their holdings in the company, the number of shares held, share numbers uniquely identifying the shares, certificate number, and date of issue.
The share certificates are, prima facie, evidence of ownership of shares as per the Companies Act, 2013. In the case of private companies, the allotment is generally made through Form SH-1, and the certificates of shares will then have to be issued within the time limit prescribed. The holding of shares today is in demat form, wherein physical certificates have been discontinued and replaced by electronic records maintained with depositories such as CDSL and NSDL.
How to Get or Download a Share Certificate Online?
In India, downloading some documents depends on how your stocks are held:
- Listed shares (new issues): These shares are held in demat accounts with CDSL or NSDL. There are no share certificates. The legally accepted “evidence” of ownership is a Consolidated Account Statement (CAS) or a demat holding/transaction statement, which can be obtained at any time.
- Private or unlisted companies: Old issued Form SH-1 share certificates are used. However, it is now required in India that most private companies dematerialise, resulting in the phasing out of paper certificates; instead, many companies now credit demat accounts and issue a digitally signed PDF or allotment advice. The demat compliance deadline for many private companies has been pushed to June 30, 2025.
1. If your Shares are in DEMAT (CDSL/NSDL)
Option A: You can download your CAS (this is available for both CDSL and NSDL holdings).
The CAS is a detailed statement that includes all your demat accounts and mutual funds. It can be generated immediately by entering your PAN, Demat ID, and OTP
From CDSL’s e-CAS portal –
- Access CDSL’s CAS and verify your login.
- Enter your PAN, 16-digit Demat (BO) ID, date of birth, and verify the OTP.
- Choose a time period and download the CAS (PDF). The PDF is usually password-protected using your PAN in UPPERCASE.
From the NSDL CAS page –
- Use the NSDL CAS service and follow the described steps.
- CAS can be obtained through NSDL IDeAS (investor login) or the SPEEDe mobile app, which provides access to the last 12 months.
Use DigiLocker (CDSL CAS) –
- In DigiLocker, search for CDSL – Consolidated Account Statement, enter your Demat ID and PAN, and download the PDF.
- This option is useful if you have lost your portal password.
Not sure if you are with CDSL or NSDL?
Check the format of your Demat number: • CDSL: a 16-digit numeric ID (e.g., 1234…3456) • NSDL: starts with “IN” followed by 14 digits (e.g., IN1234…7890)
Option B: To get a Demat holding or transaction statement, please follow the steps below:
- Log in to myEASi/easiest to view or print your account’s holdings (SOH) and transactions (SOT).
- Log in to IDeAS through NSDL to view and download your holdings and previous year’s monthly statements.
- For mobile, options are the CDSL myEasi app and NSDL mobile services for e-CAS access.
It is important to note that a normal paper “share certificate” will not be issued through demat. Your CAS or demat statements are valid proof of ownership for banks, visa applications, and due diligence. The CAS was created by SEBI/Depositories specifically for this purpose.
2. In the event of holding shares in a private or unlisted company
a. The first preference today is Demat credit along with electronic guidance.
Most private companies are now required to issue securities only in dematerialised form (with some exceptions), and shareholders are required to hold them in demat; the deadline for many existing private companies has been extended to June 30, 2025, from the earlier date of September 30, 2024. You will get:
- Demat credit to your DP account.
- An allotment advice or a digitally signed PDF from the company or RTA (usually by email or through a cap-table site).
To get electronic credit and guidance, please give your Demat ID (in CDSL 16-digit or NSDL IN format) to the company or RTA. Investor portals like NSDL IDeAS or CDSL myEASi will reflect your new shares and allow you to download statements at any time.
b. If the company still issues a share certificate (Form SH-1)
Legally, a physical share certificate has to be issued in Form SH-1 and signed by the authorised officers (e.g., two directors or a director and the company secretary, as the case may be) within two months of allotment or one month after a transfer. Some companies might send a digitally signed PDF for convenience; however, it must comply with Section 46 and the Share Capital & Debentures Rules.
How to obtain it online? (if permitted by the company):
- Email the Company Secretary/Compliance team with subject “Issue of Share Certificate / e-Copy request.”
- Attach KYC (PAN, address proof), payment proof/subscription form, and Demat/folio details.
- Request a digitally signed SH-1 PDF or scanned copy while the original is couriered (if they still issue physical). Many new-age cap-table platforms have digital workflows for certificates and board approvals.
Tip: Due to the demat mandate, many private companies will not issue new physical certificates and will demand demat credit instead. The extension to 30 June 2025 merely provided companies with more time to complete the transition.
3. IPO or Unlisted Placement
- If you have recently made an application for an IPO or an unlisted placement, you can download the allotment status or advice for IPOs by providing your PAN, Application No., or DP-Client ID on the registrar’s website.
- Link Intime and KFintech provide allotment lookups and downloads for their services.
- After shares are credited, they will be reflected in CDSL/NSDL, and CAS/holding statements can be downloaded.
4. Have you lost or not received a certificate issued by a private company?
In case a physical certificate is lost, damaged, or not delivered, you should apply for a duplicate share certificate from the corporation. In brief (Section 46 combined with Rule 6):
- File a request letter, indemnity bond, affidavit, and supporting KYC with the company/RTA.
- The board or committee will sanction the issue.
- The duplicate certificate will be stamped “Issued in lieu of” with the old number, and the corporation will update the Form SH-2 register.
- Time limits: 45 days for listed companies and 3 months for unlisted companies after filing complete documentation. A fee of up to ₹50 per certificate may be charged.
Quick Troubleshooting and Suggestions
- Is your CAS not opening? Use your PAN in uppercase as the PDF password. • Error: “Details do not match.” Check your DOB/PAN with your Depository Participant (DP) and ensure which depository you are using (CDSL vs NSDL) according to your Demat number format.
- Joint holders must use the first holder’s PAN/DOB for CAS. (CAS rules are common across the depositories.)
- Would you like a simple PDF for bank and visa files? Most institutions accept SOH/SOT, which can be downloaded via myEASi (CDSL) or IDeAS (NSDL).
Conclusion
As the conventional concept of a share certificate as a paper document is being phased out, investors now have more convenient and secure online access to their ownership proof.
CDSL and NSDL, the depositories for listed companies, produce consolidated account statements (CAS) and demat holding reports, which are legally accepted electronic evidence of share ownership.
For private companies, the Enterprises Act compliance and dematerialisation requirements have led to most shareholders receiving credits directly in their demat accounts, along with electronic allotment instructions.
Even where physical certificates are issued, companies tend to provide scanned or digitally signed copies for easy reference.
As a result, obtaining a share certificate online has become an easy process, either through depository portals, DigiLocker, or company/RTA systems.
This change not only makes investor life easier but also ensures greater transparency, security, and compliance in the maintenance of share ownership records.
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