How do I Transfer Shares from Another Demat Account to Groww Demat?

Greetings investors! Hope you have checked out the Groww stocks platform and have opened your account already. Wouldn’t it be great if you had all your holdings at one place for an easy trading experience? The good news is, once you have opened your Demat account at Groww, you can transfer shares from your Demat accounts with other brokers to Groww by following the off-market transfer process.

When transferring shares to Groww, it’s essential to understand the depositories. In India, shares are held electronically with two primary depositories: NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited).

Both having separate processes to transfer shares and groww is having depository service with CDSL.

Here’s a step by step guide to help you. Read on!

CDSL to CDSL Transfers:

If your current broker’s Depository Participant (DP) operates with CDSL, the transfer to Groww (also under CDSL) can be done entirely online. Follow the detailed process as below.

Registration for Easiest on CDSL ( Easiest is CDSL’s internet based facility)

1. Click on ‘To register for easiest click here:
https://web.cdslindia.com/myeasitoken/Registration/EasiestRegistration

A. Step Enter your Client ID and DP ID. Please note that this client ID and DP ID is the one you received from the external broker and not that of Groww. The first eight digits of your Demat number are the same as your DP-ID and the next eight numbers are the same as your Client ID. 

B. An OTP will go to your registered mobile number. Enter the OTP and click on Continue to proceed.

C.Fill the necessary details and then select the account type as ‘Trusted Account (PIN) to continue

D.In this screen, you need to enter your Trusted account details.Trusted means details of the broker you are transferring the shares to.So here, you are required to enter your Groww Demat account number. You can find it in the CMR copy sent to you. You can also find it on the Groww app under personal details. Your Groww Demat number is of 16 digits and starts with 120887.

E.Now suppose you have holdings in multiple Demat accounts. You would have received your Demat account numbers with all these brokers at the time of account opening. So at this stage, you can enter the Demat account details of each of these brokers and click on the ‘+’ sign to add the entries. Please note you can add details of brokers who are registered with CDSL only ( upto 4 such entries are allowed).

F. The registration is now complete. You will now receive three emails in succession from CDSL.The first email will be a registration approval email. The second and third emails will have your login credentials – Login ID, password and PIN.

2. Login using credentials -  Now enter the required information, such as Groww's BO ID and PAN details for BO Linking Setup.

3. Click on the Transaction tab and select BO linking and enter the BO details of Groww where the shares are being transferred.

4. Click the Submit button. A pop-up will be displayed on the screen once the linking setup is successful.

5. Click on the Transaction tab and select Setup for transferring stocks through Easiest.

6. Now, select the Bulk Setup option, as shown in the image below.

7. Select the “+” icon to add the ISIN, quantity and the reason for transfer off-market details.

8. Once ISIN selected click on OK

9. After entering ISIN, quantity and the details about the reason, click on the SUBMIT option to continue. On verification select the option for COMMIT & enter the OTP PIN received on your registered mobile no.

10. Submit the OTP

11. Submit the PIN, you would have received the PIN at the time of registration

After entering OTP the Off-Market Transaction request will be completed from your end and just needs to be authenticated from Groww’s end. You will receive communication from CDSL and from our end as well once the authentication process is completed. You will be able to see your external holdings on Groww dashboard once the process is completed. The process may take up to two working days.