India’s top stock broker Zerodha has launched a new online platform for gifting stocks, ETFs, gold bonds to friends and family. With this feature, you also be able to share and gift stocks and bonds to your minor once too.
“One of the things we always wanted to do at Zerodha for a long time was to make gifting stocks, mutual funds, and bonds easier, but making the process seamless and online wasn’t possible. Thanks to the recently introduced CDSL’s e-DIS (Electronic delivery instruction slip), we now have built a platform to gift stocks, ETFs, and gold bonds to your friends and loved ones.” says, Nithin Kamath, Founder and CEO, Zerodha.
“The process for transferring the stocks is quite simple and can be done fully online in a few easy steps. The sender has to just enter the mobile number of the recipients, verify the demat account details of the recipient and authorize the transfer of stocks, that’s it. If the recipients don’t have a Zerodha account, they can open an account completely online in a few minutes and then accept the gift,” Zerodha said.
Eailer the only way to gift and transfer any financial instrument was to do the off market transaction by filling the DIS slip and submit it to the broker, but with the new feature of CDSL T-Pin, you can transfer the instruments online easily.
How To Gift Stocks From Zerodha
- Go to Stock Gifting Page on Console.
- Enter your friend’s Name and/or email id.
- Select the stock which you want to gift and enter the quantity.
- Confirm the details and click the send button. Your friend will receive an SMS and email about the details of the gift.
- Once your friend accepts the gift, you will receive an email and SMS notification from Zerodha asking you to verify the details and approve the stocks to be transferred using the CDSL TPIN. If the recipient doesn’t have a Zerodha account, the account can be opened in a few minutes, and he or she can then accept the gift.
- After you have approved the debit of stocks using the CDSL TPIN, Zerodha will set up an off-market gift transaction at CDSL which you need to verify using an OTP sent by CDSL. And the shares will transfered.
Abhishek is the founder of Above Stocks. He manages the News section of our site. Having learned the art of Stock Trading, he is always keen to know the latest updates in the Indian Stock Market and put it down in our news section.