| S.No. | Share Certificate | Share Warrant |
| 1. | A share certificate is an instrument in writing for the legal proof of the ownership. | A share warrant is a negotiable instrument, issued against fully paid up shares. |
| 2. | Every company must issue share certificate to its shareholders. | There is no compulsion of the issue of share warrants by the company. |
| 3. | Normally, the holder of the share certificate is to be the member of the company. | Generally, the holder of the share warrant is not the member of the company. |
| 4. | The share certificate is issued by the company within three months of the allotment of shares. | Shares warrant can be issued only when the shares are fully paid up. |
| 5. | No need to authorized in the Articles of Association to issue share certificate. | The issue of a share warrant must be authorized in the Articles of Association of the company. |