How to transfer shares after the company has been delisted?

General
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Context: The delisting of Hexaware Technologies was completed last year and I had not tendered my shares then. I wish to give my shares back to the company during the Exit Offer period which opened on Nov 9, 2020, and will be open until Nov 8, 2021. Quoting a statement from the Exit Offer:

Before submitting this Exit Application Form to the Registrar to the Exit Offer, please issue necessary instructions to your depository participant (where you hold the depository account in which the Equity Shares of Company are presently held) to credit your Equity Shares into the Special Depository Account (which details are below) in OFF MARKET MODE.

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I’m filling out a DIS slip from Zerodha for tendering my shares held in Demat form. Since this is the first time that I’m filling out the DIS slip, I have few queries as to how to fill it. I’m attaching the latest copy of the DIS slip received from Zerodha which is a bit different from what has been explained in this article.

Questions (Question numbers have been marked in the DIS slip):

  1. Just for clarification; since I’m transferring shares from my Demat account to the Special Depository Account, I should tick Delivery?
  2. a) Since I would be first transferring shares and submitting the Exit Offer application form thereafter, I would be receiving the money in my bank account from Hexaware in the end; hence I assume this is a non-cash transfer and should tick the Delisting/Exit Offer option? Will off market sale of security be a reason under Others option as the article mentions that an additional Annexure has to be filled if it is the case?
    b) But in the Exit Offer, it was mentioned that it is an OFF MARKET MODE, should I also fill in the details under cash transfer? If yes, then the Date of Issue/Transfer and Cheque/Reference number doesn’t make any sense to me.
  3. Being an OFF MARKET MODE what should I fill in under Settlement/Market Type and Settlement Number?

It would of great help to me if anyone could provide answers to the above questions. Thank you.

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@mohitmehra can you.

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Hi @jigarfaria,

You’re on the right track — transferring shares during the Exit Offer period is a bit technical, especially with the DIS (Delivery Instruction Slip). Let me guide you through your queries one by one:

Q1: Should I tick “Delivery” on the DIS slip?

Yes! Since you are transferring shares from your Demat account to the Special Depository Account mentioned in the Exit Offer letter, you should tick “Delivery”. It indicates that you’re transferring securities off-market.

Q2a: Is this a “Non-Cash Transfer”? Should I select “Delisting/Exit Offer”?

Correct. Since this transfer is a part of the Exit Offer post-delisting, and you will receive money later (after acceptance), this is considered a non-cash transfer. You should select ‘Delisting/Exit Offer’ if that’s available on your DIS slip.

  • If Zerodha’s DIS slip doesn’t explicitly mention “Delisting/Exit Offer,” you can use the “Others” option and write “Exit Offer – Hexaware” as the reason.

  • Annexure 8 (sometimes called POA Annexure) is usually not required if you’re the account holder and submitting the DIS yourself — but do confirm with Zerodha once.

Q2b: What about “Cash Transfer” section?

You can ignore the Cash Transfer section — it applies to a different type of transfer (between two demat accounts with monetary consideration). Since you’re participating in an Exit Offer, this field is not relevant. No need to fill Cheque/Ref No or Date of Transfer.

Q3: What to fill under “Settlement/Market Type” and “Settlement Number”?

Since this is an OFF-MARKET transfer, these fields are not applicable. You can either:

  • Leave them blank, or

  • Write “OFF MARKET” under Market Type if your DP (Zerodha) insists on something being filled.

You are transferring based on the Exit Offer instructions — not through an exchange-based settlement — so these fields don’t matter for your transaction.

Final Steps Recap

  1. Tick Delivery (type of instruction).

  2. Select Delisting/Exit Offer or mention “Exit Offer – Hexaware” under Others.

  3. Fill the Special Depository Account details exactly as given in the Exit Offer letter.

  4. Ignore Settlement/Market Type/Cash Transfer fields.

  5. Submit DIS slip and Exit Application Form as per instructions (Registrar’s address, etc.).

Important Tip: Keep a scanned copy of your filled DIS slip and courier receipt for records. Also, monitor for confirmation from the Registrar once shares are received.

In case of help, talk to the executives of the concerned department!

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Bro you are 4 years a bit too late. Hopefully OP finished this by now lol

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