India pesticides Limited has received in-principle approval from the National Stock Exchange of India Limited (NSE) for listing equity shares under its Employee Stock Option Plan 2023. The approval, dated January 12, 2026, marks a significant step in the company's employee incentive program implementation.

ESOP Share Details

The NSE approval covers the listing of up to a maximum of 28.79 lakh equity shares with specific parameters outlined below:

Regulatory Compliance Requirements

The NSE approval comes with mandatory compliance conditions that the company must fulfill before the actual listing of shares. These conditions ensure adherence to regulatory frameworks and protect investor interests.

Key compliance requirements include:

• Notification to NSE under Regulation 10(c) after allotment and credit to beneficiary accounts
• Receipt of all statutory approvals from SEBI, RBI, and MCA
• Compliance with SEBI LODR Regulations 2015
• Adherence to Companies Act provisions
• Submission of required documentation as per NSE guidelines

Documentation and Process Framework

The approval process requires comprehensive documentation to ensure transparency and regulatory compliance. Essential documents include certified copies of board resolutions, allotment statements, and beneficiary details.

Specific documentation requirements encompass:

• Statement under Regulation 10(c) as per SEBI format
• NSDL/CDSL credit confirmation from registrar and transfer agent
• Board resolution for share allotment
• Complete list of allottees with share allocation details
• Details of employees receiving options exceeding specified thresholds

Regulatory Framework and Oversight

The approval falls under SEBI (Share Based Employee Benefits) Regulations, 2014, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. NSE retains the right to withdraw approval if submitted information proves incomplete, incorrect, or misleading.

The exchange emphasized that final listing and trading approval will be subject to complete compliance with all stated conditions. This framework ensures that employee stock option plans maintain transparency and adhere to established market regulations.

The company has informed both BSE and NSE about this development, with the information also made available on its official website for stakeholder access.

India Pesticides Limited announced significant board-level changes on January 12, 2026, with the appointment of a new independent director and approval of a comprehensive postal ballot process. The company's Board of Directors passed several key resolutions through circular resolution, marking important governance developments for the agrochemical manufacturer.

Board Appointments and Committee Restructuring

The board approved the appointment of Mr. Arun Kumar Jain (DIN: 07563704) as an Additional Director in the capacity of Non-Executive Independent Director. The appointment is subject to shareholder approval and is proposed for a five-year term from the date of appointment. Alongside this appointment, the board also approved the reconstitution of various committees to accommodate the new director.

Director Profile and Qualifications

Mr. Arun Kumar Jain brings substantial experience to the board as a former Indian Revenue Service (IRS) officer of the 1978 batch who retired as Chairman of Central Board of Direct Taxes (CBDT) on January 31, 2016. His educational credentials include an M.Sc. (Mathematics) with First Rank from Lucknow University and an LL.B. degree from Pune University.

During his distinguished career, he served in several senior positions including Director General (Investigation), Ahmedabad, and Chief Commissioner of Income Tax at Vadodara and Ahmedabad. In 2013, he joined the CBDT as Member (Personnel & Vigilance) before being elevated to Chairman. His expertise spans accounting and financial analysis, investigation, interpretation and implementation of tax laws, and public administration.

Currently, Mr. Jain serves as an Independent Director (second term) with GHCL Limited, a listed public company with an annual turnover of approximately ₹3,200.00 crore. The company confirmed that he is not related to any of the Directors, Key Managerial Personnel, Promoters, or Promoter group of the Company and is not debarred from holding the office of Director by any regulatory authority.

Postal Ballot and E-Voting Schedule

The company has established a comprehensive timeline for shareholder approval of the director appointment through postal ballot and remote e-voting process. National Securities Depositories Limited (NSDL) has been appointed to provide e-voting facility services, while Mr. Saket Sharma, a Practicing Company Secretary and Partner at M/s. GSK & Associates, has been appointed as Scrutinizer to conduct the postal ballot process.

Regulatory Compliance and Next Steps

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company indicated that the Notice of Postal Ballot for seeking approval of the members will be circulated in due course and will be filed with the stock exchanges. All detailed information regarding the appointment has been provided in accordance with listing regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

The appointment reflects India Pesticides Limited's commitment to strengthening its board governance with experienced professionals who bring valuable expertise in regulatory compliance and financial management to support the company's strategic objectives.