The Nomination and Remuneration Committee of the Board of Directors approved the grant at its meeting held on Friday, 29 October 2026. The meeting commenced at 12:45 PM IST and concluded at 3:00 PM IST.

Key Details of ESOP Grant:

  • Number of Options Granted: 550,000 Employee Stock Options
  • Exercise Price: ₹598 (Rupees Five Hundred and Ninety Eight) per option
  • Scheme: RKF Limited Employee Stock Option Scheme 2023 (ESOP Scheme 2023)
  • Face Value: ₹2.00 per equity share
  • Conversion: Each option is convertible into one equity share of the company

Pricing Formula:

The exercise price was determined based on the previous 15 days average closing market price of the company's shares on the National Stock Exchange of India Limited (NSE), which is the stock exchange with the highest trading volume. The Committee applied a discount of approximately 10% on this average price as of 28 October 2026, resulting in the final exercise price of ₹598 per option. The scheme allows for a maximum discount of up to 25%.

Vesting Schedule:

The options will vest in four equal annual tranches:

  • 25% of options will vest on the 1st anniversary from the date of grant
  • 25% of options will vest on the 2nd anniversary from the date of grant
  • 25% of options will vest on the 3rd anniversary from the date of grant
  • 25% of options will vest on the 4th anniversary from the date of grant

Exercise Period:

Vested options must be exercised within a period of 4 years from the date of vesting of such options.

Significant Terms:

  • The grant is based on eligibility criteria mentioned in the ESOP Scheme 2023
  • Options vest not earlier than 1 year and not later than 4 years from the grant date
  • Each vested option entitles the holder to apply for one equity share
  • Shares will be transferred by the Ramkrishna Forgings Limited Employee Welfare Trust upon exercise
  • Expired, lapsed, or unexercisable options return to the options pool for future grants

Financial Impact:

The disclosure states that diluted earnings per share pursuant to issue of equity shares on exercise of options is not applicable as this communication pertains only to the grant of options.