Authorization and Approval

The grant was made pursuant to authority granted by shareholders at the 37th Annual General Meeting held on July 18, 2023. The Nomination and Remuneration Committee (NRC) approved the grant in accordance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Grant Details

  • Total RSUs granted: 2,49,092 (Two Lakh Forty Nine Thousand and Ninety Two)
  • 239,080 RSUs granted with effective grant date of May 1, 2026
  • 10,012 RSUs granted with effective grant date of August 1, 2026
  • Each RSU is exercisable into one equity share of face value ₹10 each
  • Pricing formula: ₹10 (face value of equity shares)

Vesting and Exercise Terms

  • RSUs vest based on time-based criteria
  • Minimum vesting period: 1 year from grant date
  • Maximum vesting period: 3 years from grant date
  • Once vested and confirmed by NRC, RSUs must be exercised within 1 year from vesting date

Current Status

  • Options vested: Nil
  • Options exercised: Nil
  • Options lapsed: Nil
  • Subsequent changes/cancellation: Nil
  • Money realized by exercise: Not Applicable
  • Total shares from exercise: Not Applicable
  • Diluted EPS impact: Not Applicable