Indoco Remedies has officially informed stock exchanges about a GST inspection conducted at its registered office by Maharashtra State GST Department authorities on February 2, 2026.

Regulatory Filing Details

The pharmaceutical company filed a disclosure under Regulation 30 of SEBI Listing Regulations on February 3, 2026, providing comprehensive details about the inspection. The GST authorities visited the company's registered office in exercise of powers under Section 67 of the CGST Act and SGST Act, which pertains to inspection, search and seizure powers.

Scope and Nature of Investigation

According to the official communication from the Assistant Commissioner State Tax, Mumbai, the authorities have requested books of accounts for verification covering the period from 2020-2021 to date. The inspection is being conducted under the formal authorization in Form INS-01.

Company's Compliance Status

Indoco Remedies has confirmed that proceedings are ongoing and the company is cooperating fully by providing data as per requests placed by the authorities. The company has stated that no specific allegations or violations have been communicated so far.

Regulatory Disclosure Requirements

The company has fulfilled its disclosure obligations under SEBI Listing Regulations by informing both NSE and BSE about the inspection. Additionally, the information has been hosted on the company's website at www.indoco.com in compliance with Regulation 46(2) of SEBI Listing Regulations.

The disclosure was signed by Company Secretary and Head-Legal Ramanathan Hariharan, ensuring proper corporate governance protocols are followed during this regulatory process.

Indoco Remedies Limited has completed the allotment of 55,700 equity shares under its Employee Stock Option Plan-2022, marking a significant step in its employee compensation strategy. The pharmaceutical company announced this development through a regulatory filing dated February 3, 2026.

Committee Approval and Meeting Details

The Nomination and Remuneration Committee of Indoco Remedies approved the share allotment during its meeting held on February 3, 2026. The committee meeting commenced at 09:00 a.m. and concluded at 09:30 a.m., demonstrating efficient decision-making processes.

Share Allotment Breakdown

The allotment involves two distinct categories of shares with different pricing structures:

The shares have been allotted to the Indoco Employees Welfare Trust, which will subsequently allocate or transfer these shares to eligible employees upon exercise of their stock options and Restricted Stock Units (RSUs).

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up capital structure:

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement also complies with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring complete regulatory adherence.

ESOP Structure Details

The Employee Stock Option Plan-2022 represents Indoco Remedies' commitment to employee participation in the company's growth. The allotted shares will be held by the ESOP Trust until eligible employees exercise their options, providing a structured mechanism for employee equity participation. The significant difference in exercise prices between the two categories reflects different grant terms within the comprehensive ESOP framework.