Avenue Supermarts Limited has announced a significant leadership transition with the appointment of Ms. Kalpana Unadkat as the new Chairperson of the Company. The Board of Directors approved this appointment during their meeting held on 14th March, 2026, with the change taking effect from 1st April, 2026.

Leadership Transition Details

The appointment comes as part of a planned succession, with current Chairman Mr. Chandrashekhar Bhave completing his second term as an Independent Director on 16th May, 2026. The transition timeline has been structured as follows:

New Chairperson Profile

Ms. Kalpana Unadkat brings extensive expertise to her new role, with over twenty-five years of experience in corporate law, governance, and cross-border M&A transactions. Her professional background includes:

• Legal Qualifications: Dual-qualified solicitor in India and the United Kingdom
• Previous Roles: Senior Partner at Khaitan & Co and Co-Head (India Practice) at Ashurst, an international law firm based in London
• Specialization: Advising global corporations on cross-border M&A and strategic joint ventures

Governance Expertise and Leadership Approach

Ms. Unadkat is recognized as an authority on corporate governance and board leadership. Her expertise encompasses regulatory frameworks, board effectiveness, and long-term strategic guidance. She has demonstrated a collaborative leadership approach that encourages open dialogue, balanced deliberation, and strong board engagement.

Her ability to synthesize complex regulatory, commercial and governance considerations has been particularly valuable in supporting board oversight responsibilities and strengthening decision-making processes. Beyond her professional advisory work, Ms. Unadkat has contributed significantly to advancing governance leadership in India, having mentored and influenced more than 200 directors and senior leaders.

Regulatory Compliance

The appointment has been made in compliance with Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that Ms. Kalpana Unadkat is not related to any of the Directors of the Company, ensuring independence in her role as Chairperson.

This leadership transition represents a continuation of Avenue Supermarts' commitment to strong corporate governance and experienced board leadership as the company moves forward with its strategic objectives.

Avenue Supermarts Limited has announced the vesting of 15,12,909 stock options to eligible employees under its Employee Stock Option Scheme 2016. The company's ESOP Committee approved this vesting at its meeting held on March 14, 2026, covering employees of the company and its subsidiaries under the Class A category.

ESOP Details and Exercise Terms

The vested stock options carry an exercise price of Rs. 299 per option, which represents the price at which fresh shares were issued during the company's IPO. Eligible employees have until June 13, 2026, to exercise these options, with each stock option entitling the holder to one equity share of the company.

Original Grant and Performance Overview

The original grant of 27,72,525 options was made on March 14, 2017, to eligible employees under the ESOP Scheme 2016 with a vesting period of 9 years from the date of grant. The scheme operates in accordance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Exercise Activity and Realizations

Previous exercise activity shows that 3,600 options were exercised by nominees of deceased employees, generating Rs. 10,76,400 in proceeds for the company. A significant number of options, totaling 10,10,175, lapsed due to employee resignations, while 2,45,841 options were cancelled based on performance parameters at the time of vesting.

Regulatory Compliance

The vesting announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided comprehensive disclosure details as required under SEBI Master Circular dated January 30, 2026. The options are vested based on employee performance and approval of the company's ESOP Committee, ensuring alignment with regulatory requirements and corporate governance standards.