Description
NSE notifies listing of further issued securities for 11 companies including Balu Forge Industries, HDFC Bank, IXIGO, Lodha Developers, Max Estates, and others, effective February 25, 2026.
Summary
NSE has notified the listing of further issued securities for 11 companies on the Capital Market segment, effective February 25, 2026. The securities include shares issued under ESOP schemes and preferential allotments. This circular is issued under Regulation 3.1.1 and Regulation 2.5.5 of the NSE Capital Market Trading Regulations Part A.
Key Points
- Effective date for trading of all newly listed securities: February 25, 2026
- Securities span two issuance types: ESOP allotments and preferential allotments
- All securities are in the EQ (Equity) series and are pari passu with existing shares
- Market lot size is 1 for all newly listed securities
- Balu Forge Industries: 10,00,000 shares issued under Preferential at Rs. 360/- each; lock-in until August 30, 2026
- HDFC Bank: 13,60,302 shares allotted under ESOP (Re. 1/- face value); no lock-in
- Le Travenues Technology (IXIGO): 1,12,220 shares allotted under ESOP (Re. 1/- face value); no lock-in
- Lodha Developers: 12,466 shares allotted under ESOP (Rs. 10/- face value); no lock-in
- Max Estates Limited: 11,41,552 shares issued under Preferential at Rs. 657/- each; lock-in until August 31, 2027
- Oracle Financial Services Software (OFSS): details partially provided in source
Regulatory Changes
No new regulatory changes. This circular is a standard operational notification under existing NSE Capital Market Trading Regulations (Regulation 3.1.1 for admission to dealings and Regulation 2.5.5 for lot sizes).
Compliance Requirements
- All members must use the designated security codes for trading these securities on the NSE system
- Trading must be conducted in the specified lot sizes as per the Annexure
- Lock-in restrictions must be observed for preferential allotment shares:
- BALUFORGE preferential shares: locked in until August 30, 2026
- MAXESTATES preferential shares: locked in until August 31, 2027
- ESOP-allotted shares for HDFCBANK, IXIGO, and LODHA carry no lock-in restrictions
Important Dates
| Event | Date |
|---|---|
| Circular issued | February 24, 2026 |
| Effective date for trading | February 25, 2026 |
| BALUFORGE lock-in expiry | August 30, 2026 |
| MAXESTATES lock-in expiry | August 31, 2027 |
| HDFCBANK allotment date | February 20, 2026 |
| IXIGO allotment date | February 13, 2026 |
| LODHA allotment date | February 18, 2026 |
| BALUFORGE allotment date | December 30, 2025 |
| MAXESTATES allotment date | January 6, 2026 |
Impact Assessment
This is a routine listing notification with moderate market impact. The addition of shares from ESOP allotments (HDFCBANK, IXIGO, LODHA) marginally increases the free float of these stocks. Preferential allotment shares for BALUFORGE and MAXESTATES are subject to lock-in periods and will not immediately impact tradeable supply. HDFC Bank’s addition of 13,60,302 shares is negligible relative to its large existing share base. Smaller-cap stocks like BALUFORGE and MAXESTATES may see slightly more proportional float impact. No systemic or market-wide implications.
Impact Justification
Routine listing of further issued securities across multiple companies via ESOP and preferential allotment routes. Increases float for affected stocks but no regulatory policy changes involved.