Event Details

  • The Nomination and Remuneration Committee (NRC) approved the exercise of options and consequent allotment of equity shares at its meeting held on June 16, 2026
  • The company received fresh exercise requests from eligible employees for vested options
  • The disclosure is being uploaded on the company's website at www.shyammetalics.com

ESOP Scheme Details

  • Scheme Name: SMEL Performance ESOP Scheme (ESOP I-2023)
  • Total Options Covered: 8,76,738 equity shares of face value ₹10 each
  • Original Grant: Options granted to 62 employees at ₹326 per share (25% discount to market price on September 25, 2023) and 1 employee at ₹331 per share (25% discount to market price on September 27, 2023)
  • Market Price Determination: Based on the latest available closing price on NSE (which had higher trading volume) on the previous trading day immediately preceding the grant approval date
  • Compliance: Scheme is in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021

Vesting Schedule

Options vest over a 4-year period:

  • 20% of total eligible options vest on first anniversary of grant date
  • 23% of total eligible options vest on second anniversary of grant date
  • 23% of total eligible options vest on third anniversary of grant date
  • 34% of total eligible options vest on fourth anniversary of grant date

Current Exercise Details

  • Options Vested: Options vested with effect from September 25 and September 27, 2025
  • Options Exercised: 40,242 options exercised by 10 eligible employees
  • Exercise Period: June 1, 2026 to June 15, 2026
  • Money Realized: ₹1,31,21,307.06 (One Crore Thirty One Lakh Twenty One Thousand Three Hundred Seven and Six Paise)
  • Shares Allotted: 40,242 equity shares (1 Option = 1 Share)
  • Options Lapsed: Nil
  • Variation in Terms: No variation
  • Subsequent Changes: Not Applicable

Additional Scheme Terms

  • The ESOP Scheme is administered via an ESOP Trust which is authorized to purchase shares from the secondary market
  • Grant of Options is based on eligibility criteria determined by the NRC Committee
  • Equity shares allotted pursuant to exercise are not subject to lock-in
  • Vested options may be exercised within 1 year from commencement of the respective vesting period

Financial Impact

  • Diluted earnings per share impact: Not Applicable (as stated in disclosure)
  • The exercise resulted in cash inflow of ₹1.31 crore to the company

Certification

The disclosure is certified under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.