Cello World Limited has secured regulatory approval to expand its employee stock option program, receiving in-principle clearance from India's major stock exchanges for listing additional equity shares under its employee benefits scheme.

Exchange Approvals Received

The company announced that both the National Stock Exchange of India Limited and BSE Limited have granted in-principle approval for listing equity shares under the CELLO ESOP-2025 scheme. The approvals were issued on January 05, 2026, marking a significant milestone for the company's employee incentive program.

ESOP Scheme Details

The approval covers the listing of up to a maximum of 66,26,551 equity shares with a face value of ₹5.00 each. These shares will be issued to employees of Cello World Limited upon exercise of stock options granted under the CELLO ESOP-2025 scheme.

Regulatory Compliance Requirements

Both exchanges have outlined specific conditions that must be fulfilled before the final listing approval. The key requirements include:

• Notification to exchanges under Regulation 10(c) after allotment of securities
• Receipt of all statutory and regulatory approvals from SEBI, RBI, and MCA
• Compliance with SEBI (LODR) Regulations, 2015
• Adherence to Companies Act provisions and other applicable laws
• Submission of required documentation including board resolutions and allottee details

Documentation and Next Steps

The exchanges have specified that Cello World Limited must submit certified copies of various documents, including the statement under Regulation 10(c), board resolution of allotment, and detailed lists of allottees. The company must also provide confirmation from registrar and transfer agents regarding credit to beneficiary accounts or dispatch of physical certificates.

Both NSE and BSE have reserved the right to withdraw their in-principle approval if any information submitted is found to be incomplete, incorrect, or misleading. The final trading permission will be granted upon receipt of proper notification and compliance with all stated conditions.

The approval enables Cello World Limited to proceed with its employee stock option scheme, providing a mechanism to incentivize and retain talent through equity participation in the company's growth.

Cello World Limited has received an Order-in-Original from GST authorities regarding alleged misclassification of certain polyurethane insulated products. The company disclosed this development on December 18, 2025, in continuation of its earlier intimation dated June 24, 2025, regarding receipt of a Demand cum Show Cause Notice.

GST Order Details

The Order-in-Original has been passed by the Joint Commissioner, Central Goods and Services Tax Central Excise, Surat Commissionerate. This order follows the Show Cause Notice that was issued under Sections 74(1) and 74A(1) of the CGST Act, 2017, along with corresponding provisions of SGST/UTGST Acts and Section 20 of the IGST Act, 2017.

Alleged Classification Issue

The GST authorities have alleged misclassification of polyurethane (PU) insulated products supplied by Cello World and its subsidiaries. The specific allegation involves:

• Products Involved: PU insulated bottles and lunchboxes
• Current Classification: HSN 7323 (as per company)
• Alleged Correct Classification: HSN 3923 (as per GST authorities)
• Issue: Alleged short payment of GST due to classification difference

Company's Response Strategy

Cello World is currently evaluating the Order-in-Original and has outlined its response approach:

• The company plans to file an appeal against the order
• The appeal will be filed before the appellate authority within prescribed timelines
• Financial impact, if any, will be considered in accordance with applicable accounting standards

Regulatory Compliance

The disclosure has been made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This intimation follows the company's earlier communication dated June 24, 2025, when it first informed about receiving the Demand cum Show Cause Notice from the Directorate General of Goods and Service Tax Intelligence (DGGI), Surat Zonal Unit.

The company has provided detailed information as required under the listing regulations and relevant SEBI circulars, ensuring transparency with stakeholders regarding this regulatory development.