Shareholders approve PRSU Scheme 2026, subsidiary grants and change in Main Objects Clause
PRSU Scheme 2026 + grants to eligible employees of the company.
By ScoutQuest · · 3 min read
- PRSU Scheme Share Cap
- 73.5 lakh equity shares of face value ₹10/- each
- Dilution vs Paid-up Capital
- approximately 0.76% of the paid-up equity share capital as on August 13, 2026
- Postal Ballot Date
- October 19, 2026
What was approved
The company informed the exchanges that members, through a postal ballot by remote e-voting on October 19, 2026, approved three items: the Max Healthcare Institute Limited - Performance Linked Restricted Stock Unit Scheme 2026 together with grant of Performance Linked Restricted Stock Units (PRSUs) to eligible employees of the company; grant of PRSUs under the same scheme to eligible employees of subsidiary companies; and an alteration of the Main Objects Clause of the Memorandum of Association.
Employee scheme: key numbers
- The total number of shares that may be issued and allotted on exercise of PRSUs under the scheme shall not exceed 73.5 lakh equity shares of face value ₹10/- each.
- That equals approximately 0.76% of the paid-up equity share capital of the company as on August 13, 2026.
- Exercise price is the face value prevailing on the grant date, presently ₹10/- per equity share.
- The exercise period starts on the vesting date and expires three years from that date.
- The scheme is stated to be in terms of the SEBI (SBEB) Regulations, 2021.
A point worth noting: the scheme has been approved by members, but no units have been granted under it as on date. So details such as units granted, vested or exercised, money realised, and the dilution impact on earnings per share are not applicable at this stage. The scheme is performance linked, so the shares covered are a ceiling that may be issued, not shares already issued.
Main Objects Clause: what changes
The Memorandum of Association is being amended by inserting three new sub-clauses after the existing sub-clause 6, subject to approval of the Registrar of Companies / Ministry of Corporate Affairs.
- Sub-clause 7 covers establishing, running and managing medical colleges, teaching institutions and other educational institutions, including undergraduate, postgraduate and doctoral programmes, nursing, pharmacy, physiotherapy, allied health sciences and hospital management, along with teaching hospitals, research and skill development.
- Sub-clause 8 covers manufacturing, processing, marketing, distributing, importing and exporting pharmaceuticals, formulations, medicines, drugs, injectables, radiopharmaceuticals and radioisotopes, including Fluorodeoxyglucose (FDG), and setting up cyclotron, proton and other particle accelerator facilities and related laboratories.
- Sub-clause 9 covers food and beverage and allied services in or in connection with hospitals, medical colleges and other establishments, including cafeterias, canteens, food courts, catering and bakeries.
Why the object clause matters
These are enabling clauses. They widen what the company is permitted to pursue as its main business lines - medical education, pharmaceuticals and radiopharmaceuticals, and food services - subject to the stated approvals, licences and accreditations. They do not by themselves indicate that any of these activities has started or that any investment has been committed.
What to take away
Two things were decided by shareholders: a performance-linked employee stock unit scheme with a ceiling of 73.5 lakh shares, roughly 0.76% of paid-up capital, and a broadening of the company's stated objects into education, pharmaceuticals and food services. Both are enabling decisions; the actual issuance of shares and the actual entry into these businesses would be separate events.
Also from Max Healthcare Institute
Max Healthcare to hold Q2 & H1 FY27 earnings call for investors and analysts on November 3, 2026
23 Oct 2026
Board meeting on October 30, 2026 to consider and approve unaudited Q2 and H1 financial results
23 Oct 2026
Max Healthcare saw a short buildup in derivatives data amid continued focus on private hospital names
22 Oct 2026
More numbers
- Maximum shares issuable under the PRSU Scheme 202673,50,000 equity shares
- Face value per equity share₹10/-
- Shares covered as share of paid-up equity capital~0.76%
- Exercise period from vesting datethree years
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