NRC approves grant of 2,82,415 stock options under ESOP Plan 2025

The Nomination and Remuneration Committee approved a grant of 2,82,415 stock options to eligible employees under Physicswallah Limited Employees' Stock Option Plan 2025, effective October 01, 2026.

Thu 1 Oct 2026

Stock Options Granted

2,82,415 stock options

Exercise Price

INR 1

Face Value per Share

INR 1

Equity Shares Covered

2,82,415 equity shares of face value INR 1 each

Effective Date

October 01, 2026

What was approved

The Nomination and Remuneration Committee (NRC) of the company approved the grant of 2,82,415 stock options to eligible employees under the Physicswallah Limited Employees' Stock Option Plan 2025. The grant is effective from October 01, 2026. The scheme is stated to be in terms of the SEBI (SBEB) Regulations, 2021.

The numbers

• 2,82,415 stock options granted to eligible employees.
• Each stock option is convertible into one fully paid-up equity share having face value of INR 1 each.
• 2,82,415 equity shares of face value INR 1 each are covered by the options granted.
• The exercise price shall be INR 1.

What the terms say

• Vesting: the options shall vest as per the schedule determined by the NRC and in the manner specified in the grant letter and ESOP Plan 2025.
• Exercise window: the options shall be exercisable from the respective vesting date during the option grantee's continuous employment with the company, unless otherwise provided under ESOP Plan 2025, including on the occurrence of events or circumstances specified in the plan.
• The plan sets out how options are dealt with in cases such as death, permanent incapacity, resignation, termination, retirement and abandonment.
• On corporate actions such as a rights issue, bonus issue, split or consolidation of equity shares, merger or amalgamation, or sale of a division or undertaking or other reorganisation, requisite adjustments (which may include adjustments to the number of options) shall be made in a fair and reasonable manner under the plan.
• The equity shares allotted on exercise of the options would not be subject to lock-in.
• Equity shares arising on conversion of the options shall rank pari passu with all other equity shares in issue, from the date of allotment.

The annexure marks the following as Not Applicable: options exercised, money realised by exercise of options, total shares arising as a result of exercise of options, options lapsed, variation of terms of options, subsequent changes or cancellation or exercise of such options, and diluted earnings per share pursuant to issue of equity shares on exercise of options.

How to read this

A stock option grant gives employees the right to buy shares of the company at a pre-set price, here INR 1 per option. It is typically used as an employee incentive and retention tool.

Because fresh equity shares are issued when options are exercised, the share count can go up over time. The amount of fresh shares that could be issued here is 2,82,415 equity shares of face value INR 1 each, which is the figure investors can track for any future change in the number of shares outstanding. Whether and when any shares are actually issued depends on the vesting schedule, the employees continuing in employment, and the options being exercised.

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