Description

BSE announces listing of 2,356,336 further securities issued under ESOP/ESOS by 17 companies including Max India, Aditya Birla Capital, Infosys, IDFC First Bank and others, effective December 31, 2025.

Summary

BSE has announced the listing and admission for trading of further securities issued by 17 companies under their Employee Stock Option Plan (ESOP) and Employee Stock Option Scheme (ESOS) programs. A total of 2,356,336 new equity shares will be listed with effect from Wednesday, December 31, 2025. The shares are not under any lock-in period. This is a routine corporate action related to employee compensation schemes.

Key Points

  • 17 companies are listing additional shares issued under ESOP/ESOS schemes
  • Total new shares being listed: 2,356,336 shares
  • Effective date of listing: December 31, 2025
  • None of the shares are under lock-in restrictions
  • Largest issuances: IDFC First Bank (796,222 shares), Sai Life Sciences (889,133 shares), Aditya Birla Capital (120,054 shares), BlackBuck (110,715 shares), Federal Bank (108,461 shares)
  • Face values range from Re. 1 to Rs. 10 per share depending on the company
  • Notice Number: 20251230-28

Companies and Share Details

  1. Max India Limited (543223): 20,000 shares, FV Rs. 10
  2. Aditya Birla Capital Ltd (540691): 120,054 shares, FV Rs. 10
  3. ArisInfra Solutions Limited (544419): 66,870 shares, FV Rs. 2
  4. BlackBuck Limited (544288): 110,715 shares, FV Re. 1
  5. Carborundum Universal Ltd (513375): 6,876 shares, FV Re. 1
  6. CG Power and Industrial Solutions Limited (500093): 5,000 shares, FV Rs. 2
  7. DCB Bank Limited (532772): 32,620 shares, FV Rs. 10
  8. Emcure Pharmaceuticals Limited (544210): 7,700 shares, FV Rs. 10
  9. Federal Bank Ltd (500469): 108,461 shares, FV Rs. 2
  10. IDFC FIRST BANK LIMITED (539437): 796,222 shares, FV Rs. 10
  11. Infosys Ltd (500209): 43,490 shares, FV Rs. 5
  12. KFin Technologies Limited (543720): 55,879 shares, FV Rs. 10
  13. Lodha Developers Limited (543287): 42,630 shares, FV Rs. 10
  14. Sai Life Sciences Limited (544306): 889,133 shares, FV Re. 1
  15. Sudarshan Chemical Indus. Ltd (506655): 5,463 shares, FV Rs. 2
  16. The Phoenix Mills Ltd (503100): 6,000 shares, FV Rs. 2
  17. WAAREE RENEWABLE TECHNOLOGIES LIMITED (534618): 99,223 shares, FV Rs. 2

Regulatory Changes

No regulatory changes announced. This is a standard listing notification for shares issued under existing ESOP/ESOS frameworks.

Compliance Requirements

  • Market participants are required to take note of the additional shares listed
  • No specific compliance actions required from market participants
  • Companies have fulfilled listing requirements for ESOP/ESOS issued shares
  • For clarifications, market participants can contact BSE at 022-2272 8706/5878

Important Dates

  • Notice Date: December 30, 2025
  • Listing Effective Date: December 31, 2025 (Wednesday)
  • Lock-in Expiry: Not Applicable (NA) - no lock-in period for any of the shares

Impact Assessment

Market Impact: Minimal. The listing of ESOP/ESOS shares is a routine corporate action with negligible impact on overall market operations.

Stock-Specific Impact: The dilution effect varies by company. IDFC First Bank and Sai Life Sciences have the largest absolute number of shares being listed (796,222 and 889,133 respectively), but the percentage dilution relative to total outstanding shares is expected to be marginal for all companies. The shares represent employee compensation and are typically absorbed by the market without significant price disruption.

Liquidity Impact: Minor increase in floating stock for the affected companies, which may marginally improve liquidity.

Investor Considerations: Existing shareholders should note the slight dilution in their holdings. However, ESOP/ESOS issuances are generally viewed positively as they align employee and shareholder interests.

Impact Justification

Routine ESOP/ESOS listing with minimal market impact; affects dilution marginally for 17 companies but does not alter fundamental business operations or trading conditions.