Key Quantitative Figures

  • Total stock options granted: 189,000
  • Maximum potential equity shares to be issued: 945,000 (each option convertible into 5 equity shares)
  • Face value of equity shares: ₹2 each
  • Additional options reserved for future employees: 62,900

Dates of Action

  • Meeting date of Nomination and Remuneration Committee: July 28, 2026
  • Grant Date: July 28, 2026

Parties Involved

  • Transrail Lighting Limited (Company)
  • Nomination and Remuneration Committee (NRC) of the Company
  • Eligible employees of the Company
  • Independent valuer (for fair market value determination)

Terms and Conditions

Pricing Formula: The exercise price shall be the fair market value of the equity share as determined by an independent valuer on the date of grant.

Vesting Schedule:

  • 40% after completion of 36 months from Grant Date
  • 30% after completion of 48 months from Grant Date
  • 30% after completion of 60 months from Grant Date
  • Vesting subject to uninterrupted employment and other terms of ESOP 2023

Exercise Period: Vested options may be exercised within 24 months from the respective vesting date. For each tranche, options may be exercised in not more than three instalments.

Other Significant Terms:

  • Options are personal to grantees and non-transferable
  • Each stock option entitles holder to acquire 5 equity shares of face value ₹2 each
  • No options have vested, lapsed, or been exercised as of the Grant Date
  • No variation in terms of the options granted

Financial Impact

Potential equity dilution through issuance of up to 945,000 equity shares upon full exercise of all granted options. Diluted earnings per share impact not quantified in the disclosure.

Additional Information

  • The ESOP 2023 scheme is compliant with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
  • The disclosure was signed by Monica Gandhi, Company Secretary & Compliance Officer
  • Corporate Identification Number: L31506MH2008PLC179012