TaxTMI 
TaxTMI 
Lock-in
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....n case of listing without a public issue: Provided that nothing contained in this regulation shall apply to: a) equity shares allotted to employees, whether currently an employee or not, under an employee stock option or employee stock purchase scheme 4[or a stock appreciation right scheme] of the issuer prior to the initial public offer, if the issuer has made full disclosures with respect to ....
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....ovided that such equity shares shall be locked-in for a period of at least one year from the date of purchase by the venture capital fund or alternative investment fund or foreign venture capital investor. d) equity shares held by persons other than the promoters, continuously for a period of at least one year prior to the date of listing in case of listing without a public issue: 6[Explanatio....
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....ities held by the promoters and locked-in may be pledged with any scheduled commercial bank or public financial institution or systemically important non-banking finance company as a collateral security for a loan granted by such bank or institution or systemically important non-banking finance company if the pledge of specified securities is one of the terms of sanction of the loan. (3) The spec....
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....d vide Notification No. SEBI/LAD-NRO/GN/2023/130 dated 23-05-2023 before it was read as, "Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014" 4. Inserted vide F. No. SEBI/LAD-NRO/GN/2025/233 dated 03-03-2025 w.e.f. 03-03-2025 (For effective date in certain cases see Notification) 5. Inserted vide F. No. SEBI/LAD-NRO/GN/2....