How To Transfer Shares From Another Demat Account To Groww?

You can transfer shares from your Demat accounts with other brokers to Groww by following the off-market transfers very easily after you open a Demat account at Groww. You will pay Rs. 15.93 per company if you transfer your shareholding from Groww to another demat account with a different broker. This charge is per company, not per share.

Steps to Transfer Shares from Another Demat Account to Groww

How Do I Transfer Shares from Another Demat Account to Groww

Follow the below-mentioned steps for transferring shares.

Registering for Easiest on CDSL (Easiest is CDSL’s internet-based service)

Step 1: Visit cdslindia.com and click “Login to-New System Myeasi (BO/CM).

Step 2: Select “Click here to register for the quickest.”

Step 3: Type in both your Client ID and DP ID. Note that this client ID and DP ID are those you obtained from the external broker, not Groww. Your Demat number shares the same first eight digits as your DP-ID and the next eight digits as your Client ID. 

Step 4: Your registered mobile number will be assigned an OTP. Please enter your OTP and click ‘continue’ to move on. 

Step 5: Enter all necessary details and then select the type of account as ‘Trusted Account PIN’ to continue.

Step 6: On this screen, you will need to provide your Trusted account details. Trust means knowing the details of the broker you are transferring the shares to. Please enter your Groww Demat account number in this field. The CMR copy sent to you can be found here. On the Groww app, under your personal information, you can also find it. The Groww Demat number is 16 digits long, starting with 120887.

Step 7: Suppose that you have holdings in many Demat accounts. At the time of opening your account, you would have received your Demat account number from all these brokers. Now, you can enter the Demat account information for each of these brokers at this time and click “+” to add entries. Please note that up to 4 entries may be added to the details of brokers registered with CDSL only. Once you have added all of the accounts from which you want to transfer your assets to Groww, click Continue. The brokers (depository participants) will verify the information you provide, and following verification, you will receive a membership confirmation.

Step 8: Your registration has been completed. The CDSL will send three more messages to you in the next few minutes. A registration approval email will be the first email. Your login credentials will be your login ID, password and PIN in the second and third emails.

The next procedure is to log in to CDSL Easiest

Step 1: The first step is to use the credentials you have been given to log in to the CDSL Easiest at https://web.cdslindia.com/myeasi/home/login and continue the procedure.

Step 2: After logging in, select Setup for Stock transfers through Easiest by clicking on the Transaction tab.

Step 3: In the Transaction Setup menu, choose Bulk Setup.

Step 4: Click the “+” symbol to add the ISIN, the quantity, and the justification for the off-market transfer of the goods.

Step 5: Click on the SUBMIT option to proceed after entering the ISIN quantity and details as to why. To verify, select Commit and enter an OTP PIN that has been received on your registered mobile number.

Step 6: After completing the OTP, the Off-Market Transaction request will be finished at your end and will just require Groww’s authentication. After the authentication procedure is over, CDSL will get in touch with you and our end. You will be able to see your external holdings on the Groww dashboard once this process is finished.