Grant of 2,60,194 options under ESOP 2026 and 6,14,594 options under ESOP 2023

The Nomination and Remuneration Committee approved the grant of 2,60,194 stock options under ESOP 2026 and 6,14,594 under ESOP 2023.

Sat 10 Oct 2026

ESOP 2026 options granted

2,60,194 stock options

ESOP 2023 options granted

6,14,594 stock options

Exercise price

ESOP 2023 at INR 495; ESOP 2026 floor price INR 325

What was approved

The Nomination and Remuneration Committee of the company, at its meeting held on 9 October 2026, approved the grant of employee stock options to eligible employees under two schemes:

• Cohance Lifesciences Limited – Employee Stock Option Plan 2026 (ESOP 2026)
• Suven Pharmaceuticals Limited – Employee Stock Option Plan 2023 (ESOP 2023)

Each option is convertible into one equity share of the Company of face value INR 1. The options may be offered and granted in one or more tranches.

Size of the two grants

• ESOP 2026: 2,60,194 stock options. Upon exercise, these shall result in allotment of 2,60,194 shares.
• ESOP 2023: 6,14,594 stock options. Upon exercise, these shall result in allotment of 6,14,594 shares.

Both schemes are stated to be in terms of the SEBI (SBEB) Regulations, 2021.

Exercise price

• ESOP 2026: the exercise price per option shall be decided by the Board or the Nomination and Remuneration Committee and set out in the letter of grant. In any circumstance it shall not be less than INR 325 for a grant made within 6 months of receipt of in-principle approval from the stock exchanges following shareholder approval; a grant to existing employees as on the effective date of ESOP 2026 is to be made within 10 working days of that in-principle approval, at an exercise price of INR 325.
• For a grant made after 6 months of that in-principle approval, or to existing employees after 10 working days, the exercise price shall not be at more than a 20% discount to the average market price over a 21 trading days' period preceding one trading day prior to the grant date.
• ESOP 2023: all options were granted at an exercise price of INR 495.

Vesting and exercise window

• ESOP 2026: options vest not earlier than a minimum of 1 year and not later than a maximum of 8 years from the date of grant, subject to the conditions in the grant letter.
• ESOP 2023: options vest not earlier than a minimum of 1 year and not later than a maximum of 10 years from the date of grant.
• Under both schemes, the exercise period is up to 3 years from the date of vesting.
• The Nomination and Remuneration Committee may, at its discretion and subject to applicable laws, change the vesting schedule, provided the change is not detrimental to the interest of the employees.

How a retail investor can read this

An employee stock option gives an employee the right to buy a share later at a set price. Shares are allotted only when an option is exercised. The number of shares that can arise on exercise is the number of options granted — 2,60,194 under ESOP 2026 and 6,14,594 under ESOP 2023 — each option being convertible into one equity share of face value INR 1. The two grants carry different pricing: the ESOP 2026 options are granted with an exercise price floor of INR 325, while the ESOP 2023 options were granted at INR 495. The vesting windows also differ, 1 to 8 years for ESOP 2026 and 1 to 10 years for ESOP 2023, with an exercise period of up to 3 years from vesting in both cases. The details of what has been exercised, the money realised and the options lapsed are marked as not applicable in the annexures.

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