Vedanta Power Limited has intimated the vesting of Employee Stock Option Grants - 2023 under the pre-demerger Vedanta Limited Employee Stock Option Scheme - 2016 (ESOS 2016). The vesting became effective November 4, 2026, for eligible employees.

The vesting follows the Composite Scheme of Arrangement approved by the National Company Law Tribunal, Mumbai Bench, which became effective on May 1, 2026. This scheme transferred the merchant power undertaking of Vedanta Limited (VEDL) to Vedanta Power Limited (VPL).

VPL adopted the VPL ESOS Special Purpose Demerger Scheme to provide continuity of benefits for outstanding grants under ESOS 2016 held by eligible employees of VEDL and the resulting companies (VPL, Vedanta Aluminum Metal Limited, Vedanta Oil and Gas Limited, and Vedanta Iron And Steel Limited). Eligible employees will be entitled to receive equity shares of VEDL as well as the respective resulting companies.

Key Details from Regulatory Disclosure:

Total Options Granted: 1,84,14,252 (18.4 million) options granted by VEDL under the 2023 Grant plan

Options Vested:

  • Total Vesting: 55,16,340 (5.52 million) options
  • VPL Employees: 1,82,756 (0.18 million) options
  • VEDL and other three resulting companies: 53,33,584 (5.33 million) options

Pricing Formula: At Par Value

Exercise Period: 8 months or such other time period as may be approved by the Nomination and Remuneration Committee (NRC) of the Company

Performance Conditions: Options vested based on completion of the performance period and achievement of performance conditions, involving a combination of business and individual performance over a sustained period as approved by the Nomination and Remuneration Committee

Pending Determinations: The following will be determined after the exercise period closes:

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

Scheme Compliance: The scheme is in terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021

No Variations: No subsequent changes, cancellation, or variation of terms of options occurred

Dilution Impact: Diluted earnings per share impact not provided in the disclosure

The disclosure was made pursuant to Regulation 30 of SEBI Listing Regulations and Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.