Nature and Purpose of the Meeting

The Nomination and Remuneration Committee (NRC) of the Board of Directors met on November 6, 2026, to approve matters related to the company's Employee Stock Option Scheme (ESOP), 2023. The meeting specifically addressed the allotment of shares from exercised options and the fresh grant of new stock options.

Details of Resolutions Passed

  • Allotment of Shares: Approved allotment of 1,19,824 equity shares of face value ₹10 each to eligible grantees pursuant to exercise of stock options under the DEE Employee Stock Option Scheme, 2023.
  • Fresh Grant of Options: Approved grant of 93,920 new stock options to eligible employees under the same scheme. Each option equals one equity share at an exercise price of ₹10 per option.
  • Vesting Schedule for New Grant: The 93,920 options will vest over three years: 20% (18,784 options) on first anniversary, 40% (37,568 options) on second anniversary, and 40% (37,568 options) on third anniversary of the grant date.
  • Exercise Period: Options may be exercised within 3 years from their respective vesting dates.

Financial Impact

  • Paid-up Share Capital Increase:
  • Existing paid-up share capital: 7,52,39,438 equity shares (₹75,23,94,380)
  • Post-allotment paid-up share capital: 7,53,59,262 equity shares (₹75,35,92,620)
  • Money Realized: ₹1,19,824 (excluding tax) from exercise of the 1,19,824 options
  • Diluted EPS: The diluted earnings per share for the quarter ended 30th June 2026 was ₹1.52 per share (standalone basis)

Timing of the Meeting

The Board Meeting commenced at 11:00 A.M. and concluded at 11:35 A.M. on November 6, 2026.

Compliance References

  • SEBI Listing Regulations, Regulation 30
  • SEBI Master Circular No. HO/49/14/14(7)2025 CFD-POD2/I/3762/2026 dated January 30, 2026
  • SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, Regulation 10(C)
  • SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023

Additional Material Disclosures

  • Share Details: Allotted shares have distinctive numbers from 80324330 to 80444153 and ISIN INE841L01016
  • Ranking: All allotted shares rank pari-passu with existing equity shares in all respects
  • No Lock-in: The shares are not subject to any lock-in period
  • No Premium: Exercise price is at par value (₹10) with no premium
  • Documents Available: Complete documents are available on company website at www.deepiping.com

Not Covered in Document

  • Specific use of proceeds from the ESOP exercise
  • Individual names of grantees or recipients
  • Specific reasons for the fresh grant
  • Detailed financial impact beyond the share capital increase