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“The cap table is an Excel file. Three people have three versions. Nobody is sure which one the CS filed from.”

§ 01

Schedule / Cap table

Statutory basis

  • — Import from Excel
  • — Indian instruments as structured data
  • — Distinctive numbers
  • — Point-in-time truth

Walkthrough: demo company
(Bharat Widgets)

Cap table software for Indian companies

A spreadsheet is a snapshot someone last edited. Saral is a ledger of events — allotments, transfers, conversions, splits — and every view is computed by replaying those events. Nothing can be silently edited; mistakes are corrected in the open, with a reversing entry.

Import from Excel

Bring the sheet your CS maintains. Saral parses holders, classes, prices and allotment dates, validates in a dry run, and writes only after you approve.

Indian instruments as structured data

Equity, CCPS (with liquidation preference, participation and anti-dilution terms), CCDs, iSAFEs and partly-paid shares — modelled as data the engine computes with, not free-text notes.

Distinctive numbers

Certificates carry numbered share ranges. Saral assigns them, splits them FIFO on transfer, retires them on buyback, renumbers on splits — and audits continuity.

Point-in-time truth

The cap table as of your last AGM, your last filing, or any diligence date — replayed, not reconstructed from memory.

Cap tabledemo company
The demo company’s cap table — current, fully diluted, or as of any date you pick.
The demo company’s cap table — current, fully diluted, or as of any date you pick.

Further exhibits

Exit waterfall on the same ledger: liquidation preferences modelled, not guessed.
Exit waterfall on the same ledger: liquidation preferences modelled, not guessed.
SH-1 share certificates with distinctive number ranges, generated and tracked.
SH-1 share certificates with distinctive number ranges, generated and tracked.

Questions founders ask

QCan I edit a past entry?

No — and that is the point. The ledger is append-only. Corrections are made with reversing entries, so the history your investors and the ROC rely on is tamper-evident.

QWhat if my Excel has errors?

The importer runs a dry-run validation first and shows every warning. Nothing is written until you approve the diff.

QCan I export everything?

Yes — cap tables and registers export to Excel and PDF at any time, on every plan. Your data is never held hostage.

Register of modules

Request a demonstration

See cap table on the demo company

Bharat Widgets — same data as the screenshots above, live.