Regulation 11 - Schemes implemented by unlisted companies - Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014

Schemes implemented by unlisted companies. 11. The shares arising after the initial public offering ( IPO ) of an unlisted company, out of options or SAR granted under any scheme prior to its IPO to the employees shall be listed immediately upon exercise in all the recognised stock exchanges where the shares of the company are listed subject to compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and where applicable, sub-regulation (1) of regulation 12.