Grant of 23,85,355 Stock Options and 11,05,140 Performance Restricted Stock Units to Employees

23,85,355 stock options at grant price Rs. 531.60/- each (ESOP Scheme 2025).

Tue 29 Sep 2026

Stock Options Granted

23,85,355 stock options at grant price Rs. 531.60/- each (ESOP Scheme 2025)

Performance Restricted Stock Units Granted

11,05,140 performance restricted stock units at grant price Rs. 10/- each (PRSU Scheme 2025)

Vesting Schedule

30% / 30% / 40% over 3 years, exercisable within 4 years of each vesting

What was approved

The Nomination & Remuneration Committee of the Board approved two employee grants under the company's 2025 schemes.

• 23,85,355 equity stock options, face value Rs. 10/- each, grant price Rs. 531.60/-, under the Employee Stock Option Scheme 2025.
• 11,05,140 performance restricted stock units, face value Rs. 10/- each, grant price Rs. 10/-, under the Performance Restricted Stock Units Scheme 2025.

Each option and each unit is convertible into one equity share upon vesting and exercise.

Vesting and exercise

• 30% vests on the 1st anniversary from the date of grant.
• 30% vests on the 2nd anniversary.
• 40% vests on the 3rd anniversary.
• Vested options and units must be exercised within 4 years from the respective vesting date, failing which they lapse.

What it means for investors

Stock options and restricted stock units are a way of linking employee rewards to the company's shares. Shares are issued only if and when the grants vest and are exercised, spread over the coming years. Because new shares can be created at that point, existing shareholders' holdings can be diluted to that extent. The options carry a grant price of Rs. 531.60/- while the performance units carry a grant price equal to the face value of Rs. 10/-.

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