Key Actions Approved

On June 9, 2026 at 4:22 PM, the Nomination and Remuneration Committee of Max India Limited approved:

  • Grant of 8,74,227 (Eight Lakh Seventy Four Thousand Two Hundred and Twenty Seven) Employee Stock Options under the MIL Employee Stock Option Plan 2020 to eligible employees
  • Allotment of 60,000 equity shares of face value ₹10 each as fully paid-up shares to eligible employees of the Company/Subsidiary Companies arising from exercise of vested stock options

Financial and Capital Structure Impact

Share Capital Change:

  • Pre-allotment paid-up capital: ₹52,52,28,620 (5,25,22,862 Equity Shares of ₹10 each)
  • Post-allotment paid-up capital: ₹52,58,28,620 (5,25,82,862 Equity Shares of ₹10 each)
  • Increase of ₹6,00,000 in paid-up capital due to allotment of 60,000 shares

ESOP Grant Details

Quantity: 8,74,227 stock options granted on June 9, 2026

Pricing Formula: Grant price determined at ₹80.02 per option, representing 50% of the average market price of the company's equity shares as on June 5, 2026

Conversion: Each option entitles the holder to receive one equity share of face value ₹10 upon exercise

Vesting Schedule:

  • Minimum vesting period: 1 year
  • 10% of total options vest by end of 1st year
  • 20% of total options vest by end of 2nd year
  • 30% of total options vest by end of 3rd year
  • 40% of total options vest by end of 4th year

Exercise Period: 5 years from the respective vesting dates

Additional Information

The disclosure will be hosted on the company's website at www.maxindia.com.