HCL Technologies has secured a significant strategic partnership with a Europe-headquartered, Fortune Global 50 firm to establish an AI-driven operating model for managing Global Digital Workplace and Enterprise Networks. The agreement, valued at $1.14 billion, represents entirely net new business for the company and underscores its capabilities in digital transformation services.

The initial term of the contract extends from July 2026 to December 2031. This period provides a substantial revenue runway, with provisions to extend the partnership for a further five years upon the conclusion of the initial term.

Partnership Details

The collaboration focuses on transforming the client's operational infrastructure through artificial intelligence. Key aspects of the engagement include the management of the client's Global Digital Workplace and Enterprise Networks, leveraging HCL Technologies' expertise in AI-driven solutions.

The disclosure was submitted to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The event closed on July 2, 2026, at 23:13 hours IST.

HCL Technologies granted 43,27,271 Restricted Stock Units (RSUs) to eligible employees and its subsidiaries under the RSU Plan 2021 and RSU Plan 2024. The grants, approved by the Nomination and Remuneration Committee on July 2, 2026, represent 0.159% of the paid-up equity share capital of the company. The scheme is implemented through a trust mechanism acquiring shares from the secondary market, ensuring no fresh share issuance or dilution of earnings per share.

Grant Details

The company allocated 2,04,784 RSUs to 9 employees under the RSU Plan 2021 and 41,22,487 RSUs to 2,102 employees under the RSU Plan 2024. Each RSU entitles the holder to one fully paid-up equity share of ₹ 2 each upon vesting and exercise. Additionally, 15,265 RSUs under the 2021 plan and 11,356 RSUs under the 2024 plan were cancelled.

Vesting Schedule

The vesting for the granted RSUs will occur between July 2027 and July 2029. The exercise period allows employees to exercise vested RSUs within a maximum of six months from the vesting date.

Key Terms

The exercise price is fixed at ₹ 2 per RSU, equivalent to the par value of the equity share. The trust acquires shares from the secondary market to fulfill obligations, meaning the company will not issue fresh shares to the trust or employees. Consequently, there will be no dilution of earnings per share resulting from the exercise of these RSUs.