Description

BSE announces listing of additional equity shares issued under ESOP/ESOS schemes by nine companies including IDFC First Bank, Max Healthcare, and City Union Bank, effective December 10, 2025.

Summary

BSE has announced the listing and admission for trading of further securities issued by nine companies under their Employee Stock Option Plans (ESOP) and Employee Stock Option Schemes (ESOS). These shares will be available for trading starting Wednesday, December 10, 2025. The listings involve a total of approximately 3 million shares across various companies, with no lock-in restrictions on any of the listed securities.

Key Points

  • Nine companies are listing additional equity shares issued under ESOP/ESOS schemes
  • Total shares being listed: approximately 3 million shares across all companies
  • Effective trading date: December 10, 2025
  • IDFC First Bank has the largest issuance with 1,229,793 shares (face value ₹10)
  • City Union Bank follows with 1,049,475 shares (face value ₹1)
  • Max Healthcare Institute is listing 316,839 shares (face value ₹10)
  • None of the shares are subject to lock-in restrictions
  • All shares have been allotted specific distinctive number ranges for identification

Regulatory Changes

No regulatory changes are introduced in this circular. This is a standard listing notification for shares issued under existing ESOP/ESOS frameworks.

Compliance Requirements

  • Trading members must note the new securities and their respective ISIN codes for trading purposes
  • Companies must ensure proper allotment and distinctive numbering as specified
  • Standard trading and settlement procedures will apply to these securities from the listing date

Important Dates

  • Notice Date: December 9, 2025
  • Listing and Trading Commencement Date: December 10, 2025
  • Lock-in Expiry: Not applicable (NA) - no lock-in period for any of the shares

Impact Assessment

Market Impact: Minimal to negligible. The additional shares represent employee compensation conversions rather than fresh capital raising or significant dilution events.

Trading Impact: The quantities being listed are relatively small compared to the free float of most companies. For example, IDFC First Bank’s 1.23 million shares represent a tiny fraction of its total outstanding shares.

Liquidity Impact: Slight increase in available shares for trading, but unlikely to materially affect liquidity given the modest quantities.

Investor Impact: No direct impact on existing shareholders. These are routine ESOP conversions that were already accounted for in the companies’ diluted share capital calculations.

Impact Justification

Routine listing of employee stock option shares with minimal market impact. No lock-in periods and relatively small quantities compared to total outstanding shares.