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In the world of investing, by the time everyone is talking about an opportunity, it’s often too late.

Think about it—what if you had invested in a company before it became a household name? Before the IPO hype, before the media buzz, and before the stock price skyrocketed?

This is exactly where unlisted shares come into play.

In 2026, unlisted shares are no longer just a niche investment for ultra-rich investors. They are becoming a silent wealth-building strategy for informed retail investors who want to stay ahead of the curve.

Let’s explore why unlisted shares are being called the “next big thing” in India’s investment landscape—and whether you should consider them.

What Makes Unlisted Shares So Special?

Unlisted shares are shares of companies that are not yet listed on stock exchanges. But don’t confuse “unlisted” with “unknown.”

Many well-known companies spend years in the unlisted space before going public. During this phase, early investors get the opportunity to invest at relatively lower valuations.

👉 In simple terms: Unlisted shares = Early access to future listed companies

And in investing, early access is everything.

Final Thoughts: Opportunity for the Patient Investor

Unlisted shares are not a shortcut to quick money—but they can be a powerful wealth creation tool for patient and informed investors.

They reward those who:

Think long-term

Do deep research

Stay ahead of the crowd

Sanitaryware is an essential part of every modern home, playing a critical role in maintaining hygiene, comfort, and functionality. With evolving lifestyles and design trends, sanitaryware has transformed from basic utility products into stylish and technologically advanced fixtures. Whether you are building a new home or upgrading your bathroom, selecting the right sanitaryware can significantly impact your daily life.

What Is Sanitaryware and Why Is It Important?

Sanitaryware refers to a range of bathroom fixtures designed for sanitation and water management. These products are typically made from ceramic, porcelain, or advanced composite materials that ensure durability and ease of maintenance.

Sanitaryware is important because it:

Promotes hygiene and cleanliness

Improves water efficiency

Enhances bathroom aesthetics

Provides comfort and convenience

Adds value to your property

Selecting sanitaryware is a long-term investment that impacts daily comfort and maintenance.

Material and Build Quality

Durable materials with smooth finishes ensure resistance to wear and stains.

Maintenance and Cleaning

Easy-to-clean designs reduce effort and help maintain hygiene consistently.

Suitability for Different Spaces

Residential and commercial spaces have different usage needs, making proper selection essential.

Wrap-Up

The right bathware delivers performance, durability, and hygiene for years to come.

What Are Unlisted Shares?

Unlisted shares are equity shares of a company not traded on any stock exchange such as NSE or BSE. These shares belong to private companies or firms that have not yet gone public. You can think of them as pre-IPO shares that are traded privately through intermediaries, investment platforms, or directly between investors.

Example:

Before its IPO, companies like HDFC Securities, Reliance Retail, and Tata Technologies were available in the unlisted market. Early investors who identified their potential earned substantial returns after listing.

Why Investors Love Unlisted Shares

1. Early Access to Growth Companies

Buying unlisted shares before IPO allows investors to enter at an early stage — often when valuations are much lower than post-listing prices.

2. Diversification Beyond Public Markets

Unlisted shares give investors access to unique sectors such as fintech, startups, or tech-enabled firms that are not yet listed.

3. High Return Potential

If a company eventually goes public, the listing gains can be significant. However, these returns come with higher risk — making research crucial.

Risks to Consider Before Investing

1. Liquidity Risk

Since these shares aren’t traded publicly, selling them can take time — there’s no active daily market.

2. Limited Information

Unlisted companies aren’t required to disclose financial data like listed firms, so transparency can be lower.

3. Regulatory & Valuation Challenges

Without frequent trading, valuation accuracy is harder to assess. Prices depend on market demand, recent transactions, or broker quotes.

How to Identify the Right Opportunities

1. Study the Company’s Financials

Review profit growth, balance sheets, and future expansion plans.

2. Analyze the Business Model

Focus on companies with sustainable growth and a clear path to profitability.

3. Track Pre-IPO Buzz

If a company is preparing for an IPO, its unlisted shares may gain traction in the secondary market — often an early indicator of listing potential.

Popular Sectors for Unlisted Share Investments

Fintech: Razorpay, One97 (Paytm before listing)

Insurance & Finance: HDFC Securities, ICICI Lombard

Consumer & Retail: Reliance Retail, Boat

Technology: Tata Technologies, Mobikwik

These sectors have shown consistent interest from investors due to growth visibility and strong IPO prospects.

How to Manage Risk

Diversify: Don’t invest heavily in one company.

Use Verified Platforms: Trade only via SEBI-registered intermediaries or trusted online platforms.

Set a Long-Term View: Returns in unlisted shares usually take 3–5 years to materialize.

Conclusion

Introduction

Most investors rush to buy shares during an IPO. But what if you could invest before a company goes public — when its valuation is still low and potential upside is high? That’s the opportunity unlisted shares offer. These are the hidden gems of the investment world, giving early access to promising companies that may be tomorrow’s blue-chip stocks.

What Are Unlisted Shares?

Unlisted shares are equity shares of a company not traded on any stock exchange such as NSE or BSE. These shares belong to private companies or firms that have not yet gone public. You can think of them as unlisted shares that are traded privately through intermediaries, investment platforms, or directly between investors.

Example:

Before its IPO, companies like HDFC Securities, Reliance Retail, and Tata Technologies were available in the unlisted market. Early investors who identified their potential earned substantial returns after listing.

Why Investors Love Unlisted Shares

1. Early Access to Growth Companies

Buying shares before IPO allows investors to enter at an early stage — often when valuations are much lower than post-listing prices.

2. Diversification Beyond Public Markets

Unlisted shares give investors access to unique sectors such as fintech, startups, or tech-enabled firms that are not yet listed.

3. High Return Potential

If a company eventually goes public, the listing gains can be significant. However, these returns come with higher risk — making research crucial.

Risks to Consider Before Investing

1. Liquidity Risk

Since these shares aren’t traded publicly, selling them can take time — there’s no active daily market.

2. Limited Information

Unlisted companies aren’t required to disclose financial data like listed firms, so transparency can be lower.

3. Regulatory & Valuation Challenges

Without frequent trading, valuation accuracy is harder to assess. Prices depend on market demand, recent transactions, or broker quotes.

How to Identify the Right Opportunities

1. Study the Company’s Financials

Review profit growth, balance sheets, and future expansion plans.

2. Analyze the Business Model

Focus on companies with sustainable growth and a clear path to profitability.

3. Track Pre-IPO Buzz

If a company is preparing for an IPO, its unlisted shares may gain traction in the secondary market — often an early indicator of listing potential.

Popular Sectors for Unlisted Share Investments

Fintech: Razorpay, One97 (Paytm before listing)

Insurance & Finance: HDFC Securities, ICICI Lombard

Consumer & Retail: Reliance Retail, Boat

Technology: Tata Technologies, Mobikwik

These sectors have shown consistent interest from investors due to growth visibility and strong IPO prospects.

How to Manage Risk

Diversify: Don’t invest heavily in one company.

Use Verified Platforms: Trade only via SEBI-registered intermediaries or trusted online platforms.

Set a Long-Term View: Returns in unlisted shares usually take 3–5 years to materialize.

Conclusion

Introduction

An Initial Public Offering (IPO) is one of the most significant milestones in a company’s journey. It marks the transition from a private entity to a publicly traded company, opening doors for investors to participate in its growth story. Over the years, IPOs have become a popular investment avenue in India, attracting both retail and institutional investors.

In this blog, we will explore how IPO work, their benefits, risks, and key factors investors should consider before investing.

What Happens When a Company Launches an IPO?

When a company decides to go public, it offers its shares to the public for the first time through an IPO. The main objective is to raise capital for expansion, debt reduction, or business development.

During this process, the company collaborates with investment banks and regulatory authorities to determine pricing, share allocation, and listing details. Once listed on the stock exchange, its shares become available for trading in the secondary market.

Why Do Companies Choose to Launch an IPO?

Companies opt for an IPO for several strategic reasons, such as:

🚀 Business Expansion: Raising funds to scale operations and enter new markets.

💰 Debt Reduction: Using capital to repay existing liabilities.

🏆 Brand Visibility: Enhancing credibility and public recognition.

🤝 Liquidity for Investors: Providing exit opportunities for early investors and promoters.

Benefits of Investing in IPOs

Investing in IPOs can offer multiple advantages for investors:

📈 Growth Potential: Early investment in promising companies can generate long-term returns.

💼 Portfolio Diversification: Exposure to new sectors and business models.

🧭 Opportunity to Invest Early: Access to companies before they become widely traded.

Risks Associated with IPO Investments

While IPOs can be attractive, they also carry certain risks:

⚠️ Market Volatility: Share prices may fluctuate significantly after listing.

📉 Limited Historical Data: Lack of long-term financial performance records.

🧠 Overvaluation Risk: Some IPOs may be priced aggressively due to market hype.

Therefore, thorough research and analysis are essential before investing.

Key Factors to Consider Before Investing in an IPO

Before applying for an IPO, investors should evaluate:

📊 Company’s financial performance and growth prospects

🏭 Business model and industry outlook

👨‍💼 Management quality and corporate governance

💹 Valuation and pricing compared to peers

📑 IPO objectives and use of funds

IPO vs Secondary Market Investment

IPO InvestmentSecondary Market InvestmentInvest in shares before listingBuy shares after listingHigher growth potentialMore price stabilityLimited historical dataMore performance data available

Both options have their own advantages depending on an investor’s risk appetite and strategy.

Conclusion

Unlisted shares are gaining increasing attention among investors looking beyond traditional stock markets. These shares offer early access to companies before they get listed on stock exchanges like NSE or BSE. While unlisted shares can deliver strong returns, they also come with certain risks that every investor should understand.

What Are Unlisted Shares?

Unlisted shares are equity shares of companies that are not listed on any recognized stock exchange. These companies may be private limited companies, startups, or large corporates planning an IPO in the future. Since they are not publicly traded, their buying and selling happen through private deals or intermediaries.

Why Investors Are Interested in Unlisted Shares

Unlisted shares attract investors mainly due to their early-stage valuation advantage. Buying shares before a company goes public can offer significant upside if the business performs well or announces an IPO.

Key reasons investors prefer unlisted shares:

Opportunity to invest in high-growth companies early

Potential for strong long-term returns

Lower valuations compared to post-IPO prices

Portfolio diversification beyond listed equities

How to Invest in Unlisted Shares in India

Investing in unlisted shares requires a different approach than stock market investing. Transactions are usually executed through authorized brokers, wealth managers, or private platforms.

Common ways to invest:

Through intermediaries dealing in unlisted shares

Employee stock sales of pre-IPO companies

Private placements and angel networks

Before investing, it is important to verify company credentials, share transfer procedures, and pricing.

Risks Associated With Unlisted Shares

While returns can be attractive, unlisted shares involve higher risk due to limited transparency and liquidity.

Major risks include:

Low liquidity and difficulty in selling shares

Limited public information and disclosures

Price volatility due to private negotiations

Longer holding periods with uncertain exit

Investors should always align such investments with their risk appetite.

Taxation on Unlisted Shares

Taxation on unlisted shares differs from listed equities. Capital gains depend on the holding period:

Short-term capital gains: Shares held for less than 24 months

Long-term capital gains: Shares held for more than 24 months (taxed with indexation benefits)

Understanding tax implications is essential before investing.

Who Should Invest in Unlisted Shares?

Unlisted shares are best suited for:

Long-term investors with high risk tolerance

HNIs and experienced investors

Investors seeking pre-IPO opportunities

Those looking to diversify beyond traditional assets

Final Thoughts

Introduction

You often hear about “Anchor Investors” subscribing before IPO opens. But who are they, and why do they matter?

Who Are Anchor Investors?

Large institutional investors who subscribe to initial public offering shares before retail investors, indicating confidence in the issue.

Why It Matters

Anchor participation boosts market sentiment and signals credibility.

Caution

Anchor interest doesn’t always guarantee post-listing success.

Conclusion

Creating a bathroom that is connected, sophisticated and everlasting is not just about choosing the right tiles; it is also about balancing your sanitaryware, colours, and lighting appropriately. Whether you are renovating or creating a new space, selecting quality sanitaryware alongside the tiles and lighting can lead to a bathroom that is indulgently fit for a spa. 

This guide is here to help you understand how to coordinate each element perfectly for an effortless and stylish bathroom design.

1. Start with a Clear Design Vision

Select the theme of your bathroom before choosing your tiles or fixtures. Will you prefer minimalistic, contemporary, classic, or striking? 

Your chosen theme will affect each design decision, from the tile color and texture to sanitaryware finishes.

Pro Tip:

If you are designing a modern bathroom, look for white, premium, sleek sanitaryware and use large neutral tiles. 

For a traditional or classic bathroom design, choose ivory or off-white sanitaryware with warm -colored tile and brass or gold accents.

2. Match Sanitaryware with Tile Colors and Patterns

Your sanitaryware’s finish and color should work with your tiles — rather than against them. Here are some tips for making a match:

Light Tiles + Light Sanitaryware

Ideal to create a sense of space. White or pastel tiles along with white design premium sanitaryware help create a clean, open look that is especially useful in smaller bathrooms.

Dark Tiles + Contrasting Sanitaryware

Dark tiles — charcoal, navy, or black — can create a striking feature when intended with white or cream sanitaryware. The contrast gives a rich hotel feel and works remarkably well.

Textured Tiles + Simple Sanitaryware

If you’re using patterned or textured tiles, select a minimal, smooth finish premium sanitaryware to counterbalance the busy and maintain a visual calm.

3. Coordinate with Bathroom Colors

Color harmony is an important factor in establishing the ambience of your bathroom. When matching your sanitaryware with wall colors or accessories, these color codes will help:

Neutral Tones (Beige, White, Grey): Use classic white or matte-finish premium sanitaryware if you are looking for a sophisticated look.

Bold Colors (Teal, Green, Terracotta): Use off-white or cream sanitaryware if you want to soften the palette.

Monochrome Style: Black accents with white sanitaryware will create a classic contrast.

Quick Tip: Always test your color samples in the actual lighting conditions your bathroom will have before making a decision. The shade of the color will appear different under warm light or cool light.

4. Lighting — The Secret Ingredient

Lighting plays a critical role in determining the atmosphere of your sanitaryware and tiles. Good bathroom lighting showcases colors, textures, and finishes making everything a little bit more luxurious.

Warm Lighting 

Compliments your beige or timber tone tiles combined with beautiful white sanitaryware. 

Creates a snug and inviting glow.

Cool Lighting

Ideal for contemporary spaces featuring grey or marble finishes.

Highlight the brightness of shiny sanitaryware and produce a crisp clean appearance.

Pro Tip: Include layers of light - ceiling light, mirror light and ambient LED strip light - to emphasize the brilliance of your sanitary fittings and surfaces.

5. Finishes and Textures Matter

Gloss Finish: Glossy finishes offer a polished look, providing the reflection of light that makes your bathroom feel both larger and more lively. 

Matte Finishes: Matte finishes create a clean and sophisticated look, especially when used complementary to matte tiles. 

Metallic Accents: Combinations of gold, chrome, or black fittings can work with the overall tone of the bathroom fixture sanitaryware and tiles to finish the designer look. 

Using similarities of texture and finish in both tiles and sanitary fixtures will create an impression that the bath was purposefully designed.

6. Balance Functionality with Style

Although looks matter, don't make a sacrifice on function, you must go with high-quality sanitaryware that looks great, is durable, comfortable, and easy to maintain.

Select wall-hung toilets and floating vanities, which both give a neat, modern appearance.

Select easy-to-clean surfaces, which have low-impact faucets to support sustainability.

7. Add Finishing Touches

Accessories such as mirrors, towel rails, and free standing planters can bring together the aesthetic of your bathroom. Ideally you would want to make sure the finishes (chrome, matte black, brass) of your accessories match your sanitaryware and your lighting to create a unified and complete look.

Conclusion

Coordinating your sanitaryware with your sanitaryware materials, colors and lighting is about merging form with function. By selecting quality sanitaryware that matches your selected materials and assists your lighting scheme, you can establish a space that is harmonious, luxurious and your own.

In the world of fixed-income investing, Non-Convertible Debentures (NCDs) have emerged as one of the most attractive options for investors seeking stable returns, lower risk, and diversified portfolios. Whether you are a conservative investor or someone looking to balance equity exposure, NCDs offer a compelling combination of predictable interest, credibility, and liquidity.

In this blog, we break down everything you need to know — from what NCDs are, how they work, types, risks, returns, taxation, and whether they fit into your investment strategy.

What Are NCDs?

A non convertible debentures (NCD) is a type of debt instrument issued by companies to raise long-term capital. These are called “non-convertible” because they cannot be converted into shares of the company at a later stage.

Instead of equity conversion, investors receive:

Fixed interest (coupon rate)

Principal repayment at maturity

NCDs are listed on stock exchanges and can be bought or sold, offering liquidity compared to traditional fixed deposits.

Why Do Companies Issue NCDs?

Companies issue NCDs when they need to raise funds for:

Business expansion

Refinancing existing debt

Working capital requirements

Infrastructure development

By offering attractive interest rates, they attract retail, HNI, and institutional investors.

Types of NCDs

NCDs come in two major categories:

1️⃣ Secured NCDs

Backed by company assets as collateral

Lower risk

Higher safety for investors

2️⃣ Unsecured NCDs

No collateral

Higher risk

Generally offer higher interest rates

Most popular NCDs in India fall under the secured category.

Key Features of NCDs

NCDs offer several investor-friendly features:

✔ Fixed Interest (Coupon)

Interest rates usually range between 8% to 11%, depending on:

Company rating

Economic conditions

Tenure

✔ Multiple Tenure Options

NCDs usually come with flexible maturities ranging from:

1 year to 10 years

✔ Credit Ratings

Given by agencies like:

CRISIL

ICRA

CARE

Ratings help assess risk (e.g., AAA, AA, A).

✔ Market Liquidity

Most NCDs are listed on:

NSE

BSE

Allows investors to sell before maturity if needed.

✔ Interest Payout Options

You can choose:

Monthly

Quarterly

Annual

Cumulative (paid at maturity)

This makes NCDs suitable for regular income seekers, especially retirees.

How Do NCDs Work?

When you invest in an NCD:

You lend money to the issuer company.

The company pays you interest at a fixed rate.

At maturity, the principal is fully returned.

Unlike equity investments, NCDs do not give ownership — you act as a creditor, not a shareholder.

Benefits of Investing in NCDs

NCDs offer compelling advantages:

🔹 Higher Interest Than Bank FDs

NCDs typically offer 1.5% to 3% higher returns than fixed deposits.

🔹 Predictable Cash Flow

Perfect for salaried individuals and retirees looking for steady income.

🔹 Listed on Stock Exchanges

You can exit early by trading the NCDs in the market.

🔹 Good for Portfolio Diversification

Balances equity risk and brings stability.

🔹 Highly Transparent

Rate, tenure, risk, and terms are clearly mentioned in the offer document.

Risks Involved in NCDs

Every investment comes with risks. NCDs carry:

❗ Credit Risk

If the issuing company’s financial health worsens, repayment may be affected.

❗ Liquidity Risk

Some NCDs may not be actively traded on exchanges.

❗ Interest Rate Risk

If interest rates rise, market price of NCDs may fall.

❗ Default Risk

Low-rated issuers pose higher chances of default.

To minimize risk, always choose:

AAA / AA rated companies

Diversify across issuers

Understand the company’s financials

Taxation on NCDs

✔ Interest Income

Taxed as per your income tax slab.

✔ Capital Gains on Selling NCDs

Short-term (holding < 36 months) → taxed as per slab

Long-term (holding > 36 months) → taxed at 20% with indexation

NCDs do not offer tax exemption like 54EC bonds.

Who Should Invest in NCDs?

NCDs are suitable for:

✓ Investors seeking higher returns than FDs ✓ Those who want regular income ✓ Investors aiming for low-to-moderate risk ✓ People building diversified portfolios ✓ Retirees and conservative investors

How to Invest in NCDs?

You can invest via:

✔ Online broker platforms

Zerodha, Groww, Upstox, or any broker offering NCD subscriptions.

✔ Demat account

Required for holding NCDs in electronic form.

✔ Primary Issue or Secondary Market

Apply during the public issue

Buy/sell later on the exchange

Conclusion

NCDs are a powerful fixed-income investment option offering higher returns, stability, and predictable income. While they come with some risks like credit and liquidity risk, choosing highly-rated issuers and maintaining a balanced portfolio can make NCDs a solid part of long-term financial planning.