Grant of 52,600 stock options under ESOP 2012 at Re. 1/- exercise price

NRC approved grant of 52,600 stock options under ESOP 2012 to employees, effective October 01, 2026.

Thu 1 Oct 2026

Options Granted

52,600 stock options under ESOP 2012

Exercise Price

Re. 1/- per share

Effective Date

October 01, 2026

Vesting Schedule

10% at 12 months, 30% at 24 months, rest 15% every 6 months

Vesting Period

over 4 years

What was approved

The Nomination and Remuneration Committee of the Board approved the grant of 52,600 stock options under the Delhivery Employees Stock Option Plan, 2012 (ESOP 2012) to eligible employees of the company, with effect from October 01, 2026.

Key terms of the grant

• Each stock option is convertible into one fully paid-up equity share having a face value of Re. 1/- each.
• 52,600 equity shares having face value of Re. 1/- each are covered by the stock options granted.
• The exercise price is Re. 1/- per share, which is the price at which an employee can acquire the share when the option is exercised.
• The scheme is stated to be in terms of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

How the vesting works

• 10% of the stock options granted vest on completion of 12 months from the date of grant.
• 30% vest on completion of 24 months from the date of grant.
• The remaining options vest at a rate of 15% every 6 months thereafter.
• The options vest over a period of 4 years from the date of grant.
• Vested options can be exercised any time from their respective vesting dates, so long as the employee continues in the employment of the company.

Exercising usually happens in stages rather than all at once, because each tranche only becomes available after its own vesting date.

Other points stated in the disclosure

• The terms of the grant cover how options are dealt with in cases such as death, permanent incapacity, resignation, termination, retirement and abandonment.
• In case of corporate actions such as a rights issue, bonus issue, split or consolidation of equity shares, merger or amalgamation, sale of a division or undertaking, or other reorganisation, requisite adjustments (which may include adjustments to the number of options under ESOP 2012) will be made in a fair and reasonable manner.
• The equity shares allotted on exercise of the stock options will not be subject to lock-in.
• Shares arising on conversion of the options will rank pari passu with all other equity shares in issue, from the date of allotment.

What this means for investors

An ESOP grant is part of how a company pays and retains employees. The shares do not come into existence today. They are issued only if and when employees exercise the options after vesting, and each option brings in one new equity share of face value Re. 1/-.

Because new shares are created on exercise, the total number of shares can increase, which is why investors often track the size of such grants. The grant here is 52,600 equity shares, spread over a 4-year vesting schedule, so any addition to the share count would happen gradually and only as options are exercised.

The disclosure does not state any amount realised by exercise of options, because these options have just been granted and none have been exercised.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.