Preferential allotment exempts employee share issues from ESOS/ESPS guidelines when compliant with preferential allotment rules.

Shares issued to employees under a preferential allotment framework are excluded from the Employee Stock Option Scheme and Employee Stock Purchase Scheme Guidelines; such issuances, when compliant with the preferential allotment rules, are governed by the preferential allotment regime and its compliance requirements rather than by the ESOS/ESPS guidelines.

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