Jindal Steel Limited disclosed the approval of stock option grants under its Jindal Steel Employee Benefit Scheme – 2022, pursuant to Regulation 30 of the SEBI Listing Regulations.

Event Details

The Nomination and Remuneration Committee (NRC) of the Company approved the grant of stock options in its meeting held on Friday, October 23, 2026. The meeting commenced at 9:30 a.m. IST and concluded at 10:30 a.m. IST.

Grant Specifications

The company approved two separate grants under the scheme:

Grant - I:

  • Number of options granted: 650,056
  • Total shares covered: 650,056 equity shares of face value Re. 1/- each
  • Conversion: Each option convertible into one equity share
  • Vesting: Across 5 years in tranches of 20% each
  • Exercise period: Maximum 5 years from date of vesting
  • Pricing formula: Face Value + 50% of Market Price

Grant - II:

  • Number of options granted: 24,960
  • Total shares covered: 24,960 equity shares of face value Re. 1/- each
  • Conversion: Each option convertible into one equity share
  • Vesting: 100% one-time vesting after one year from grant date
  • Exercise period: Maximum 5 years from date of vesting
  • Pricing formula: Face Value + 50% of Market Price

Scheme Compliance and Terms

The scheme is in compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The disclosure references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Significant Terms

  • The Scheme is administered by the Nomination and Remuneration Committee of the Company
  • Options vest after a minimum vesting period of 1 year
  • Shares arising upon exercise of Options are freely transferable with no lock-in, except as prescribed under applicable laws
  • Corporate actions may lead to adjustments in the terms

Financial Impact

  • Diluted earnings per share impact: Not Applicable (as no options have been exercised)
  • Money realized by exercise of options: Not disclosed (no exercises occurred)
  • Total number of shares from exercised options: Not Applicable

Additional Information

The disclosure was signed by Damodar Mittal, Wholetime Director, and digitally signed on October 23, 2026 at 10:36:48 IST. The information will be available on the company's website at www.jindalsteel.in.