The Nomination and Remuneration Committee of the Company approved the grant of 15,00,000 Employee Stock Options to eligible employees under the Employee Stock Option Plan 2016 at their meeting held on August 01, 2026. The meeting commenced at 09:30 AM (IST) and concluded at 10:30 AM (IST).
Key Details of the Grant:
- Total Options Granted: 15,00,000 Employee Stock Options
- Plan: Employee Stock Option Plan 2016
- Compliance: The scheme is in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
- Total Shares Covered: 15,00,000 Equity Shares (each stock option convertible into one equity share of face value ₹1)
- Exercise Price: ₹300 per option
Pricing Formula:
The exercise price was determined as the lower of:
1. Closing price of the previous day as on the date of grant
2. Average closing market price of the last 30 days
3. Average closing market price of the last three months
(The calculation uses the stock exchange which recorded the highest trading volume as on the date of grant, which is the National Stock Exchange of India Limited)
Vesting and Exercise Terms:
- Options Vested: Not applicable (pertains only to grant)
- Vesting Period: Minimum of 1 year from the date of grant
- Exercise Period: Optionees may exercise options within the period specified in the Exercise Notice, in accordance with Clause 14 of the ESOP Scheme - 2016
Additional Information:
- Money realized by exercise of option: Not applicable
- Total number of shares arising from exercise: Not applicable
- Options lapsed: Not applicable
- Variation of terms: Not applicable
- Subsequent changes/cancellation/exercise: Not applicable
- Diluted earnings per share impact: Not applicable
The disclosure is made pursuant to Regulation 30 of the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.