Regulation 11 - Schemes implemented by unlisted companies. - Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021

11. Schemes implemented by unlisted companies. The shares arising after the 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 on 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, 2018 and wherever applicable, sub-regulation (1) of regulation 12 of these regulations.