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06 · Shareholders Agreement

SHA that protects everyone
founders, investors, employees

Draft, review, and maintain Shareholders Agreements that clearly define rights, restrictions, and obligations — reducing disputes before they happen.

SHA Drafting Tag-Along / Drag-Along ROFR / ROFO ESOP Provisions
Zero
Disputes on our agreements
5 days
First draft turnaround
100%
Coverage of all provisions

Service Overview

What We Do

A Shareholders Agreement is the most important legal document your company will sign. It governs how decisions are made, how shares can be transferred, and what happens at exit — for every stakeholder.

We draft, review, and maintain SHAs from scratch — integrating ESOP provisions, founder protections, and investor rights into a single coherent document built for Indian company law.

Unlike generic legal templates, every SHA we produce is tailored to your cap table, funding stage, and growth plans — and comes with ongoing maintenance as your company evolves.

Zero
Disputes on our SHAs
5
Days to first draft
100%
Provision coverage
50+
SHAs drafted & maintained

Key Coverage

Every Clause, Covered

We cover all standard and ESOP-specific provisions — drafted for clarity, not complexity.

🏷️
Tag-Along & Drag-Along Rights

Minority shareholders can tag along on any sale. Majority holders can drag all shareholders into a deal. Balanced drafting protects both sides.

Transfer Rights
🔒
ROFR & ROFO

Right of First Refusal and Right of First Offer provisions that give existing shareholders priority before shares are offered to outsiders.

Pre-emption
🌱
ESOP Provisions

Acceleration clauses, lapse on exit, exercise rights post-termination, and good leaver/bad leaver definitions — all aligned with your ESOP plan.

ESOP Clauses
🧱
Founder Vesting & Lock-In

Founder vesting schedules, reverse vesting provisions, and lock-in periods that protect company continuity and align with investor expectations.

Founder Protection
💰
Liquidation Preference

Participating and non-participating preference structures, waterfall modelling, and anti-dilution provisions — drafted to match your term sheet.

Investor Rights
📋
Information & Board Rights

Investor reporting obligations, board seat rights, reserved matters requiring consent, and affirmative vote thresholds — clearly defined for all parties.

Governance
⚖️
Anti-Dilution Provisions

Broad-based and narrow-based weighted average anti-dilution, full-ratchet provisions, and carve-outs — modelled for financial impact before drafting.

Investor Protection
🚪
Exit & IPO Provisions

Drag-along triggers, IPO rights, co-sale rights, and mandatory sale clauses — structured to ensure all stakeholders are treated fairly at exit.

Exit Rights
🏛️
Succession & Transfer

Death, incapacity, divorce, and forced transfer scenarios — every clause defined to prevent cap table disputes when life events occur.

Succession

Our Approach

Tailored for Every Stakeholder

The same SHA, explained differently for each role in your organisation.

Your SHA should protect you — not just your investors

  • Full SHA drafting from scratch or review of existing agreements
  • Founder vesting, lock-in, and leaver provision design
  • Tag-along and drag-along rights — balanced for all parties
  • ROFR, ROFO, and pre-emption rights structured correctly
  • ESOP-specific clauses: acceleration, lapse, exercise rights
Founder View
🛡️
Founder Protection
Vesting, lock-in & leaver provisions
⚖️
Balanced Rights
Tag-along & drag-along — fair to all
🌱
ESOP Integration
Acceleration, lapse & exercise clauses

ESOP plan and SHA — always in sync

  • ESOP plan document drafted in alignment with SHA provisions
  • Employee grant letter templates consistent with SHA terms
  • Good leaver / bad leaver definition management and communication
  • SHA provision summaries written in plain language for HR use
  • Grant documentation updated automatically when SHA is amended
HR Toolkit
📝
Aligned Templates
Grant letters consistent with SHA terms
📖
Plain-Language Summaries
SHA explained simply for HR teams
🔄
Auto-Sync on Amendments
Docs updated when SHA changes

Financial rights — clearly defined and modelled

  • Financial rights: dividend, liquidation preference, and buy-back
  • Anti-dilution clause financial modelling and impact analysis
  • Information rights and reporting obligation provisions
  • Valuation methodology provisions for dispute resolution
  • SHA compliance tracking and amendment version records
CFO Overview
💰
Preference Modelling
Liquidation waterfall impact analysis
📊
Anti-Dilution Impact
Financial modelling before you sign
🗂️
Version Control
All amendments tracked and recorded

Know your rights — before you need them

  • Understand what the SHA means for your ESOP rights
  • Know your rights if the company is acquired (tag-along)
  • Understand leaver provisions and how they apply to you
  • Learn what good leaver vs bad leaver means for your shares
  • Get plain-language summaries of key SHA provisions
Employee Portal
📖
SHA Explained Simply
What it means for your shares
🏷️
Tag-Along Rights
Your protection at acquisition
🤝
Free Advisor Access
Ask any SHA or ESOP question

Key Benefits

Why Companies Choose
Equilay for SHA

🔗
ESOP-Integrated Drafting

SHA and ESOP plan are drafted together by the same team — acceleration, lapse, good leaver, and exercise provisions are fully consistent across both documents.

📖
Plain-Language Summaries

Every SHA we draft comes with a plain-language summary for employees and founders — so everyone understands their rights, not just the lawyers.

🛡️
Dispute Prevention Focus

We draft for clarity, not complexity. Ambiguous provisions cause disputes — we define every scenario (death, incapacity, M&A, IPO) explicitly.

🔄
Ongoing Maintenance

An SHA isn't a one-time document. We manage amendments, new investor additions, and ESOP plan updates to keep all documents aligned as your company evolves.

5-Day First Draft

First draft delivered within 5 working days — covering all standard provisions plus ESOP-specific clauses, formatted for Indian company law and investor expectations.

🤝
Negotiation Support

We support negotiation rounds with investors or co-founders — advising on which provisions to hold firm and which to concede, based on market practice.

How It Works

How We Draft Your SHA

A structured process that produces a complete, balanced SHA — with ESOP provisions fully integrated.

01
Stakeholder Mapping

We map all shareholders — founders, investors, ESOP pool — and understand each party's rights, expectations, and priorities before drafting a single clause.

02
Term Sheet Alignment

We review existing term sheets, investor agreements, and ESOP plan documents to ensure the SHA is consistent with all prior commitments.

03
SHA Drafting

First draft in 5 working days — covering all standard provisions plus ESOP-specific clauses, formatted for Indian company law.

04
Negotiation Support

We support negotiation rounds with investors or co-founders — advising on which provisions to hold firm and which to concede based on market practice.

05
Execution & Maintenance

Final execution managed end to end. Post-signing, we maintain the SHA register, manage amendments, and ensure ongoing compliance with all provisions.

Why Equilay

How we're
different

Most lawyers draft SHAs in isolation. We draft them in context — alongside your cap table, ESOP plan, and valuation reports.

Software + Advisory, Together
Your SHA lives on the platform alongside your cap table and ESOP records — always in sync, never out of date.
🔗
ESOP-Integrated Drafting

SHA and ESOP plan are drafted together by the same team — so acceleration, lapse, good leaver, and exercise provisions are fully consistent across documents.

📖
Plain-Language Summaries

Every SHA we draft comes with a plain-language summary for employees and founders — so everyone understands their rights, not just the lawyers.

🛡️
Dispute Prevention Focus

We draft for clarity, not complexity. Ambiguous provisions cause disputes — we define every scenario explicitly before it becomes a problem.

🔄
Ongoing Maintenance

We manage amendments, new investor additions, and ESOP plan updates to keep all documents aligned as your company evolves — not just at signing.

Get in Touch

Ready to get started with your Shareholders Agreement? Tell us about your company and we'll come back within 24 hours — no obligation.

  • Free initial consultation
  • Response within 24 hours
  • No commitment required
  • Dedicated expert assigned
Or reach us directly
hello@equilay.com

Mon – Fri, 9 AM – 6 PM IST

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Shareholders Agreement?

First draft in 5 days. Zero disputes. Built for Indian company law.

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