Fair market value of unlisted shares

The shares of a private company, if held for more than 12 months should qualify as long term capital asset . However the benefit of zero taxation which is available to listed shares on which STT is payable, would not be available to shares of a private company. So it will attract  LTCG 20%.

And to my knowledge FMV of these shares should be taken as sale price Less  actual cost paid to acquire shares.

Please correct me if am wrong.

Thanks