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01 Apr 2026
Greenply Industries Limited has successfully allotted 14,250 equity shares to eligible employees under its Employee Stock Option Plan 2020 (ESOP 2020). The allotment was approved by the company's Nomination and Remuneration Committee during its meeting held on March 31, 2026.
Share Allotment Details
The equity shares were issued with a face value of Re. 1 each to employees who submitted their exercise forms in accordance with the ESOP 2020 scheme. The shares were allotted at an exercise price of INR 55 per share, with a premium of INR 54 per share.
Parameter: Details Number of Shares Allotted: 14,250 Face Value: Re. 1 each Exercise Price: INR 55 per share Premium: INR 54 per share Date of Issue: March 31, 2026 ISIN Number: INE461C01038
Impact on Share Capital
Consequent to this allotment, Greenply Industries' paid-up share capital has increased significantly. The company's shareholding structure has been updated to reflect the new equity distribution.
Metric: Before Allotment After Allotment Number of Equity Shares: 12,48,87,795 12,49,02,045 Paid-up Share Capital: INR 12,48,87,795 INR 12,49,02,045 Distinctive Numbers: - 12,48,87,796 - 12,49,02,045
Regulatory Compliance
The allotment has been conducted in compliance with Regulation 10(c) of the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The company has filed the necessary disclosures with both BSE Limited and National Stock Exchange of India Limited, where Greenply Industries' shares are listed.
The newly allotted equity shares will rank pari-passu with the existing equity shares of the company, ensuring identical rights and privileges for all shareholders. No lock-in period has been specified for these shares, and they are issued in demat form under the existing ISIN number.
Greenply Industries Limited has disclosed receiving a tax order from West Bengal State Tax authorities that imposes significant interest and penalty demands related to Input Tax Credit (ITC) matters for the financial year 2019-20.
Tax Order Details
The order was passed on March 30, 2026, by the Office of the Senior Joint Commissioner of State Tax, Directorate of Revenue Intelligence and Enforcement, Government of West Bengal. The company received this communication on March 30, 2026, at 05:26 PM.
Component Amount (₹) Status Principal Tax Demand 75,82,119 Already paid under protest Interest 90,86,079 Confirmed in order Penalty 75,82,119 Confirmed in order Total Outstanding 1,66,68,198 Interest + Penalty
Nature of Tax Dispute
The order was passed under relevant provisions of the WBGST/CGST Act, 2017, specifically targeting Input Tax Credit availed from vendors during FY 2019-20. The adjudication authority has raised demands for interest and penalty as detailed above, though the principal tax amount had already been settled by the company under protest.
Company's Response and Position
Greenply Industries has maintained a strong stance regarding the tax order, asserting several key points:
The company has fulfilled all conditions prescribed under the WBGST/CGST Acts regarding ITC availment
Management believes it has a strong case based on merits
The company plans to file rectification and/or appeal against the order within prescribed timelines
No material impact is expected on financial, operational, or other business activities
Financial Impact Assessment
Despite the substantial monetary demand of ₹1.66 crore in interest and penalty, Greenply Industries has explicitly stated that there is no material impact anticipated on the company's financial, operational, or other activities. This assessment suggests the company's confidence in successfully challenging the order through appropriate legal channels.
Regulatory Compliance
The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to transparent communication with stakeholders regarding material developments that could potentially affect its operations.
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