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of <h1>Immediate Listing Required for ESOS/ESPS Shares Post-Exercise; Pre-IPO Schemes Need Shareholder Approval for Changes per SEBI Guidelines.</h1> The guidelines mandate that shares from Employee Stock Option Schemes (ESOS) and Employee Stock Purchase Schemes (ESPS) must be listed on recognized stock exchanges immediately upon exercise, provided the schemes comply with SEBI guidelines. Companies must obtain in-principle approval from stock exchanges and notify them upon exercise of options. Pre-IPO schemes require shareholder ratification post-IPO for new grants, and any changes to pre-IPO options need shareholder approval. Companies must disclose costs related to ESOS/ESPS in financial statements, appoint a registered Merchant Banker for implementation, and file schemes through EDIFAR. Trust-administered schemes require company-level accounting.
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