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<h1>Listing of shares from pre-IPO employee options requires immediate listing upon exercise, subject to ICDR compliance.</h1> Shares issued to employees on exercise of pre-IPO options or stock appreciation rights must be listed immediately upon exercise on all recognised stock exchanges where the company's shares are listed, subject to compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and applicable provisions of these regulations.