Delhivery Limited incorporated a wholly owned subsidiary named Delhivery Fintech Distribution Private Limited on June 2, 2026, to expand its operational footprint in the financial technology distribution sector. This strategic move aims to diversify the company's service offerings and leverage synergies within its existing logistics network.

The new entity, Delhivery Fintech Distribution Private Limited, has been established as a wholly owned subsidiary of Delhivery Limited. The disclosure regarding this formation was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates timely disclosure of material events that could impact the company's operations or shareholder value.

Key Details of the Subsidiary

Delhivery Limited has granted 35,97,432 stock options to eligible employees under its ESOP-2021 scheme, effective June 01, 2026. The grant is in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. Each stock option is convertible into one fully paid-up equity share with a face value of Re. 1/- each, covering a total of 35,97,432 equity shares.

The exercise price for the options is fixed at Re. 1/- per share. The vesting of these options is structured into two distinct tranches. Out of the total options granted, 1,04,190 options will vest over a period of four years from the date of grant, while the remaining 34,93,242 options will vest over a period of three years.

The specific vesting milestones for the first tranche of 1,04,190 options include 10% vesting upon completion of 12 months, 30% upon completion of 24 months, and the remaining options vesting at a rate of 15% every six months thereafter. For the larger tranche of 34,93,242 options, 20% will vest after 12 months, 30% after 24 months, and the final 50% upon completion of 36 months from the date of grant.

The terms of the grant include provisions for handling options in cases of death, permanent incapacity, resignation, or retirement. Adjustments to the number of options will be made in the event of corporate actions such as rights issues, bonus issues, share splits, or mergers. Equity shares allotted upon exercise of these options will not be subject to any lock-in period and will rank pari passu with existing shares from the date of allotment.

Key Details of the Grant