Description

BSE announces listing and trading admission of equity shares issued under ESOP/ESOS schemes by 15 companies including ICICI Bank, Cipla, Coforge, and others, effective December 24, 2025.

Summary

BSE has announced the listing and admission for trading of further equity shares issued by 15 companies under their Employee Stock Option Plan (ESOP) and Employee Stock Option Scheme (ESOS) programs. The newly issued securities will be available for trading starting Wednesday, December 24, 2025. A total of over 2.6 million shares across various face values will be listed, with no lock-in period applicable to any of the shares. The companies include major listed entities such as ICICI Bank, Cipla, Coforge, and Aditya Birla group companies.

Key Points

  • 15 companies listing further securities under ESOP/ESOS schemes
  • Effective trading date: December 24, 2025
  • Total new shares: Approximately 2,658,000 shares across all companies
  • No lock-in period applicable (all listed as “NA”)
  • Face values range from ₹2 to ₹10 per share
  • Largest issuance: Vascon Engineers Limited with 2,380,000 shares
  • Major banks included: ICICI Bank (19,752 shares)
  • Pharmaceutical sector: Cipla (585 shares)
  • Financial services: Aditya Birla Capital (1,375,753 shares), Home First Finance (28,601 shares)

Regulatory Changes

No regulatory changes. This is a standard listing notification for securities issued under existing ESOP/ESOS frameworks as per SEBI regulations.

Compliance Requirements

  • Companies have completed allotment formalities for ESOP/ESOS shares
  • Securities admitted to trading on BSE with assigned ISIN numbers
  • Market participants should update their systems with new share counts and distinctive numbers
  • No special compliance actions required from investors or brokers

Important Dates

  • Notice Date: December 23, 2025
  • Listing & Trading Start Date: December 24, 2025 (Wednesday)
  • Lock-in Expiry: Not applicable (no lock-in period)

Impact Assessment

Market Impact: Minimal. The newly listed shares represent ESOP/ESOS allotments which are typically small relative to the total outstanding shares of the respective companies. For example, ICICI Bank’s 19,752 shares is negligible compared to its massive equity base.

Liquidity Impact: Neutral to slightly positive. Additional shares increase overall float, though the quantities are small.

Stock-Specific Impact:

  • Vascon Engineers: Largest absolute increase (2.38 million shares, ~1% dilution based on typical capital structure)
  • Aditya Birla Capital: Significant ESOP allotment (1.37 million shares) reflecting employee participation
  • Coforge, Uno Minda: Moderate issuances indicating ongoing employee compensation programs

Investor Impact: No material impact on existing shareholders. ESOP dilution is typically anticipated and factored into valuations. No lock-in restrictions mean immediate liquidity for option holders.

Impact Justification

Routine listing of ESOP shares with minimal market impact; no lock-in restrictions and relatively small quantities compared to total outstanding shares for most companies.