Cap Table Calculator
A cap table before and after an issue of new shares, worked in share counts rather than percentages. Percentages are the output here, never the input, because a table maintained in percentages stops adding to a hundred the first time anything unusual happens.
Also called: captable calculator, shareholding calculator.
1,25,00,000 shares outstanding after issuing 25,00,000 new shares, which leave the new holder with 20%. 2500000 shares at 10 raises 25000000 and implies a post-money valuation of 125000000 across all 12500000 shares. Every existing holder is diluted by the same factor, 80% of their former percentage, without anyone selling a share. Percentages here are derived from the counts, which is the only version that stays consistent when a note converts or the pool is topped up.
An estimate, not an offer or a guarantee. Projected returns assume the rate you entered holds for the whole term, which no market does.
Ownership after
The cap table
| Holder | Shares | Before | After | Change |
|---|---|---|---|---|
| Founder A | 40,00,000 | 40% | 32% | -8% |
| Founder B | 30,00,000 | 30% | 24% | -6% |
| Seed investor | 20,00,000 | 20% | 16% | -4% |
| ESOP | 10,00,000 | 10% | 8% | -2% |
| Series A investor | 25,00,000 | 0% | 20% | 20% |
How this is calculated
Ownership is a share count divided by the total, so issuing new shares changes every existing percentage without anyone selling anything. Working in shares makes that automatic and makes the arithmetic checkable: the counts must add to the total and the percentages must add to a hundred, both of which fail loudly if an entry is wrong. A cap table kept in percentages instead has no such check, which is why the first unusual event, a note converting or a pool being topped up, quietly breaks it.
every holder is a share count over the new total, which is why nobody has to be diluted by hand- q_k
- Shares held
- q new
- New shares issued
Method and limits
What it assumes
- A single class of shares, so every share carries the same economics.
What it deliberately does not model
- Multiple share classes, preferences and warrants change the economics without changing these percentages.
- Fully diluted counts should include unissued pool shares, options and convertibles, which this page counts only if you enter them.
Formula version 1.0.0 · definition 1.0.0 · India · Report a problem with this calculator
Frequently asked questions
- Why keep a cap table in shares rather than percentages?
- Because shares are the underlying fact and percentages are derived. A table in shares can be checked against the total; one in percentages silently stops adding to a hundred.