Hexaware Technologies announced a collaboration with the Project NANDA Fellowship on September 15, 2026, to develop open-source infrastructure for autonomous AI agents.

The initiative supports the emerging Internet of AI Agents through a three-month, fully remote program. Hexaware acts as a sponsor and participant in this fellowship hosted by FAN, the umbrella program behind Project NANDA.

Program Structure

The fellowship addresses technical challenges in how AI agents discover, verify, and coordinate at scale. Participants contribute to Project NANDA, an initiative originating from the MIT Media Lab. The project builds foundational standards and reference implementations for a decentralized agentic web.

Key components include:

• Agent discovery protocols
• Verifiable identity systems
• Secure coordination across organizational boundaries

The inaugural cohort comprises more than 10 fellows. This group includes Hexaware engineers and external developers selected from a global applicant pool. Participants receive competitive stipends and direct mentorship while shipping code for live open-source infrastructure.

Strategic Context

Hexaware cites two primary objectives for this association: training next-generation AI infrastructure engineers and contributing to the open agentic web ecosystem. The move complements the company's existing investments in agentic AI, specifically its AI delivery layer, Zerovity™.

Applications

Applications for the fellowship are open globally. The priority review deadline is September 19, 2026. Candidates applying by this date receive priority consideration.

Hexaware Technologies has issued a postal ballot notice seeking shareholder approval for a new Restricted Stock Unit (RSU) plan and significant amendments to its existing Employee Stock Option Plan (ESOP). The remote e-voting process is scheduled to run from September 10, 2026, to October 09, 2026.

The company proposes to introduce the Hexaware Restricted Stock Unit Plan 2026, creating a pool of 2 million RSUs for eligible employees. This initiative aims to align employee interests with long-term organizational goals through equity-based remuneration.

Key Resolutions

Shareholders will vote on eight special and ordinary resolutions covering employee benefits and executive incentives:

• Approval of the Hexaware Restricted Stock Unit Plan 2026, authorizing the grant of up to 2 million RSUs.
• Extension of the RSU Plan benefits to eligible employees of subsidiary companies in or outside India.
• Implementation of the RSU Plan through the Hexaware Employees Benefit Trust via fresh allotment or secondary market acquisition.
• Authorization for the Trust to acquire shares from the secondary market, capped at 0.5% of paid-up capital annually and 1% cumulatively.
• Provision of financial assistance by the company to the Trust, limited to 5% of aggregate paid-up share capital and free reserves.
• Amendment of the Hexaware Employees Stock Option Plan 2024, increasing the options pool from 24,316,400 to 41,816,400 options.
• Approval for granting stock options or RSUs exceeding 1% of issued/paid-up equity capital in any single year.
• Amendment to the Incentive Payment Agreement with outgoing CEO Mr. R. Srikrishna, reducing his potential payout by 50% upon cessation of employment.

What the Numbers Show

The expansion of the ESOP pool represents a significant increase in potential dilution. The proposed addition of 17,500,000 stock options raises the total authorized pool by approximately 72%, moving from 24.3 million to 41.8 million options. Concurrently, the introduction of a separate 2 million RSU pool indicates a dual-track approach to equity compensation, likely designed to offer flexibility in vesting structures and tax treatments for different employee cohorts.

Trust Structure and Acquisition Limits

The Hexaware Employees Benefit Trust will administer both plans. Under the SBEB Regulations, secondary acquisitions by the Trust are strictly regulated. The Trust cannot hold more than 1% of the paid-up equity capital at any point, with annual acquisitions capped at 0.5%. The company may provide interest-free loans to the Trust up to the statutory ceiling of 5% of its paid-up capital and free reserves to facilitate these acquisitions.

Executive Incentive Amendment

The ballot also seeks approval for an amendment to the Incentive Payment Agreement with Mr. R. Srikrishna, who will cease to be CEO on October 28, 2026. The revised agreement reduces his indicative cash awards payable by CA Sebright Investments by 50%. For instance, a Multiple of Invested Capital (MOIC) of 3.0x would now yield $10 million, down from the originally approved $20 million. Interested parties are required to abstain from voting on this resolution.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE093A01041/ab1440b7-4a1d-4190-a15d-d1ce74ddc54c.pdf