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Unlisted shares are shares of companies that are not traded on stock exchanges like NSE or BSE. These companies are usually private or pre-IPO, so their shares are bought and sold through private deals rather than the open market.
Since they aren’t publicly listed, unlisted shares often have limited price visibility and low liquidity, and investors usually need to hold them for a longer period. Returns can be higher if the company performs well or eventually lists, but the risks are also higher compared to listed stocks.
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