Key Event Details

Employee Stock Option Grants – 2023 granted under the pre-demerger Vedanta Limited Employee Stock Option Scheme – 2016 have vested with effect from November 04, 2026. The vesting occurred upon completion of the performance period and subject to achievement of performance conditions.

Demerger Context

The Oil and Gas undertaking of Vedanta Limited (VEDL) was transferred to Vedanta Oil and Gas Limited (VOGL) pursuant to the Composite Scheme of Arrangement approved by the Hon'ble National Company Law Tribunal, Mumbai Bench, which became effective on May 1, 2026.

VOGL adopted the "VOGL ESOS Special Purpose Demerger Scheme" to provide continuity of benefits for current outstanding grants under ESOS 2016 held by eligible employees of VEDL and the Resulting Companies (VOGL, Vedanta Power Limited, Vedanta Aluminium Metal Limited, and Vedanta Iron and Steel Limited).

ESOP Grant Details

  • Total Options Granted: 1,84,14,252 (granted by VEDL under the 2023 Grant Plan)
  • Total Options Vested: 55,16,340
  • Breakdown of Vested Options:
  • VOGL: 5,45,302
  • VEDL and other three resulting companies: 49,71,038

Key Terms

  • Pricing Formula/Exercise Price: At par value
  • Exercise Period: 8 months or such other time period as may be approved by Nomination and Remuneration Committee from the date of vesting
  • Performance Basis: Options vested based on a combination of business and individual performance over a sustained period
  • Scheme Compliance: Yes, in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021

Allocation Mechanism

Upon exercise of outstanding options under VEDL's pre-demerger schemes, eligible employees of VOGL will receive equity shares of VOGL as well as corresponding entitlement to shares of VEDL and three other Resulting Companies.

Pending Determinations

The following will be determined after the exercise period closes:

  • Exact options exercised
  • Money realized by exercise of options
  • Total number of shares arising from exercise of options
  • Options lapsed

Additional Information

  • No variations of terms of options
  • No subsequent changes or cancellation or exercise of such options
  • Diluted earnings per share impact: Not applicable at this stage
  • The disclosure is made pursuant to Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026