Description

NSE notifies listing of further equity shares issued under ESOP/ESPS schemes by 14 companies including CREDITACCESS GRAMEEN, Dr. Reddy's, Havells, ITC, and others, effective November 25, 2025.

Summary

National Stock Exchange of India has issued circular notifying the listing of further equity shares issued by 14 companies under Employee Stock Option Plans (ESOP) and Employee Stock Purchase Schemes (ESPS). The securities will be admitted to trading on the Capital Market segment with effect from November 25, 2025. The circular provides detailed information including ISIN codes, distinctive number ranges, face values, and market lot sizes for each company’s additional shares.

Key Points

  • 14 companies have issued further equity shares under ESOP/ESPS schemes
  • Securities effective for trading from November 25, 2025
  • CREDITACCESS GRAMEEN: 25,806 equity shares under ESOP (allotted Nov 19, 2025)
  • Dr. Reddy’s Laboratories: 7,430 equity shares under ESOP (allotted Nov 13, 2025)
  • Havells India: 50,421 equity shares under ESPS in two tranches (allotted Oct 16, 2025)
  • ITC Limited: 926,900 equity shares under ESOP (allotted Nov 17, 2025)
  • All securities have market lot size of 1 share
  • All shares are pari passu with existing equity shares
  • Most securities have no lock-in restrictions except ITC Limited (partial lock-in as per Annexure A)

Regulatory Changes

No regulatory changes introduced. This is a routine listing notification pursuant to Regulation 3.1.1 and Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A.

Compliance Requirements

  • Trading members must use designated security codes for trading these securities
  • Securities to be identified by their respective ISIN codes on the trading system
  • Trading must be conducted in specified market lot sizes (1 share for all listed securities)
  • Companies mentioned: CREDITACCESS GRAMEEN LIMITED, Dr. Reddy’s Laboratories Limited, Havells India Limited, ITC Limited, The Karnataka Bank Limited, Mahindra Holidays & Resorts India Limited, Nippon Life India Asset Management Limited, Niva Bupa Health Insurance Company Limited, FSN E-Commerce Ventures Limited, Oracle Financial Services Software Limited, Sansera Engineering Limited, Vikram Solar Limited, VA Tech Wabag Limited, and Zota Health Care Limited

Important Dates

  • Circular Date: November 24, 2025
  • Effective Date for Trading: November 25, 2025
  • Allotment Dates:
    • CREDITACCESS GRAMEEN: November 19, 2025
    • Dr. Reddy’s Laboratories: November 13, 2025
    • Havells India: October 16, 2025
    • ITC Limited: November 17, 2025
  • Lock-in Expiry: ITC Limited has partial lock-in restrictions (details in Annexure A, specific dates not fully disclosed in excerpt)

Impact Assessment

Market Impact: Minimal. The listing of additional shares under ESOP/ESPS schemes represents a small fraction of total outstanding shares for large-cap companies. The quantities range from 1,474 shares (Havells) to 926,900 shares (ITC).

Liquidity Impact: Negligible impact on overall liquidity given the relatively small number of shares being listed compared to existing free float.

Dilution: Minor dilution effect for existing shareholders as these are standard employee compensation-related issuances.

Operational Impact: Trading members need to update their systems with new distinctive number ranges, but this is routine administrative work.

Investor Impact: No direct impact on retail or institutional investors. Standard corporate action for employee benefit schemes.

Impact Justification

Routine listing of employee stock options and employee stock purchase schemes. Minor impact on total outstanding shares. No lock-in restrictions for most securities.