Date: July 03, 2026

Board Meeting Outcomes

  • The Nomination and Remuneration Committee (NRC) of the Board of Directors approved a revised resolution by circulation on July 3, 2026.
  • The committee granted 7,92,636 stock options of face value ₹2/- each to eligible employees under the ESOP Plan 2021.
  • This intimation supersedes the earlier intimation dated July 1, 2026.

ESOP Grant Details

  • Total number of options granted: 7,92,636
  • Each stock option carries the right to apply for and be allotted 1 (one) equity share of face value of ₹2/- each
  • The scheme is in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021

Pricing Formula

  • For most employees: Exercise Price is ₹418 per option (granted at a discount of 19.84% of the Fair Market Value)
  • For US tax residents and US nationals: Exercise Price is the Fair Market Value of ₹521.47 per option
  • Fair Market Value calculation: Volume weighted average price of the shares for 90 days immediately preceding the working day prior to the grant date (July 1, 2026) on the stock exchange with the highest trading volume

Vesting and Exercise Terms

  • Options vest over three to four years along with fulfilment of other conditions mentioned in grant letters
  • Options may be exercised within 10 (ten) years from the date of vesting
  • For US residents, options shall be exercisable in accordance with the terms of the ESOP Plan 2021 and applicable Grant Letter

Other Details

  • Options exercised: Not Applicable
  • Money realized by exercise of options: Not Applicable
  • Total number of shares arising from exercise of option: Not Applicable
  • Options lapsed: Not Applicable
  • Variation of terms of options: No variation
  • Brief details of significant terms: Not Applicable
  • Subsequent changes or cancellation or exercise of such options: Not Applicable
  • Diluted earnings per share: Not Applicable

Compliance Information

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