Raju,
This is slightly grey area. if you do not have stamping done, the chances of transfer are really unknown. USCIS may ask that you never had h1B status…There are few cases that were approved as cap exempt too…but lately, it is unclear, if the transfer would work.
If your previous employer is willing, they may file it as H1B extension, again, this one you need to discuss with your old employer and decide. Talk to them…