Vedanta Aluminium Metal Limited (VAML) has submitted a regulatory disclosure pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The disclosure intimates the vesting of Employee Stock Option Grants – 2023 that were granted under the pre-demerger Vedanta Limited Employee Stock Option Scheme – 2016 (ESOS 2016). The vesting became effective from November 04, 2026.

The context for this ESOP activity stems from a Composite Scheme of Arrangement approved by the Hon'ble National Company Law Tribunal, Mumbai Bench. This scheme became effective on May 1, 2026, and resulted in the transfer of the aluminium undertaking of Vedanta Limited (VEDL) to Vedanta Aluminium Metal Limited (VAML).

To ensure continuity of benefits for employees holding outstanding grants under ESOS 2016, VAML adopted the VAML ESOS Special Purpose Demerger Scheme. This scheme covers eligible employees of VEDL and the Resulting Companies, which are Vedanta Power Limited (erstwhile Talwandi Sabo Power Limited), Vedanta Oil and Gas Limited (erstwhile Malco Energy Limited), and Vedanta Iron And Steel Limited. Consequently, upon exercise of their options, these employees will be entitled to receive equity shares of VEDL as well as the respective Resulting Companies.

Key Quantitative Details from the Disclosure:

  • Total Options Granted: 1,84,14,252 (This represents the total number of options granted by VEDL under the 2023 Grant Plan).
  • Total Options Vested: 55,16,340
  • VAML Employees: 17,39,962 options vested.
  • VEDL and other three resulting companies employees: 37,76,378 options vested.
  • Pricing Formula/Exercise Price: At Par value.
  • Exercise Window: Options may be exercised within 8 months from the vesting date, or such other time period as may be approved by the Nomination and Remuneration Committee of the Company.

Additional Disclosed Information:

  • The scheme is in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
  • The vesting is based on the completion of the performance period and subject to the achievement of performance conditions, which are a combination of business and individual performance over a sustained period.
  • Significant terms of the options include vesting based on a combination of business and individual performance over a sustained period, as per the plan approved by the Nomination and Remuneration Committee.
  • There have been no subsequent changes, cancellations, or variations to the terms of these options.
  • The exact number of options to be exercised, the money to be realized from exercise, the total number of shares to be issued, and the number of options lapsed will be determined and disclosed after the exercise period is closed.
  • The diluted earnings per share (EPS) pursuant to the issue of shares on exercise of these options is stated as 'Not Applicable' (NA) in this filing.

The disclosure was signed and submitted by Dashmeet Rana, Company Secretary and Compliance Officer of Vedanta Aluminium Metal Limited, on November 4, 2026.