Date: July 01, 2026

Board Meeting Outcomes

The Nomination and Remuneration Committee (NRC) of the Board of Directors granted 7,45,537 stock options of the Company of Face Value of ₹ 2/- each to eligible employees under the ESOP Plan 2021. The grant was approved via circular resolution on July 01, 2026.

ESOP Grant Details

Total Options Granted: 7,45,537 stock options

Face Value: ₹ 2/- per share

Compliance: The scheme is in terms of SEBI (SBEB) Regulations, 2021

Pricing Formula:

  • For most employees: Exercise Price of ₹ 418 per option (representing a 19.84% discount to Fair Market Value)
  • For US tax residents and US nationals: Exercise Price at Fair Market Value of ₹ 521.47 per option
  • Fair Market Value determined as volume weighted average price of shares for 90 days immediately preceding the working day prior to the grant date, on the stock exchange with the highest trading volume

Vesting Schedule: Options vest over three to four years along with fulfilment of other conditions mentioned in grant letters

Exercise Period:

  • 10 years from the date of vesting of options, or
  • 12 years from the date of Listing, whichever is later
  • For US residents/subjects: Exercisable in accordance with ESOP Plan 2021 and applicable Grant Letter

Other Details:

  • Each stock option carries the right to apply for and be allotted 1 (one) equity share of face value of ₹ 2/- each
  • No variation in the terms of options
  • No options have been exercised, lapsed, or resulted in money realization yet
  • No subsequent changes or cancellation of options

Compliance Information

The disclosure is made pursuant to:

  • Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
  • SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30 January, 2026

Not Specified Sections

No material disclosures under the following sections: Dividend Declaration, Financial Results, Auditor's Report, Disinvestment/Strategic Actions, Media Release/Investor Communication, Other Operational/Legal/Strategic Disclosures