The Board of indus towers approved the grant of 8,13,968 performance-based stock options to 144 eligible employees on July 27, 2026. This move reinforces the company’s long-term incentive structure for key personnel, aligning employee interests with corporate performance through a vesting schedule tied to operational metrics. The grants were made under the Employee Stock Option Scheme 2014.

The approval followed recommendations from the HR, Nomination and Remuneration Committee, which met earlier on the same day. The Board subsequently ratified these grants for senior management personnel in accordance with Regulation 19(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made pursuant to Regulation 30 of the Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Grant Details and Vesting Schedule

The total grant comprises 8,13,968 equity shares, with each stock option convertible into one equity share of face value ₹10. The exercise price for all granted options is fixed at ₹10. The vesting is structured over a three-year period from the grant date, ensuring sustained employee engagement.

Employees may exercise their vested options within seven years from the respective vesting dates. The scheme is compliant with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Performance-Linked Upside

A critical feature of this grant is its performance-based nature. While the base grant is 8,13,968 options, the actual number of vested options can increase up to 120% of the target if predefined performance criteria are met. This mechanism incentivizes employees to exceed standard operational targets, potentially increasing the total equity payout by up to 20% above the initial grant size.

What the Numbers Show

The decision to tie a significant portion of the compensation package to long-term performance metrics highlights Indus Towers' focus on sustainable growth rather than short-term gains. By structuring the vesting over three years with a back-loaded schedule (40% in the final year), the company ensures that senior talent remains engaged through the full cycle of strategic initiatives. The potential for a 20% upside in vesting serves as a strong motivational tool, linking individual rewards directly to corporate success.

Indus Towers has appointed Abhishek Maheshwari as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective August 19, 2026. The appointment aims to strengthen the company's financial leadership as it continues its operations in the telecom infrastructure sector. Maheshwari will also serve as an authorised official for determining materiality of events and making disclosures to stock exchanges.

The Board of Directors approved the appointment during a meeting held on July 10, 2026. The decision was based on the recommendations of the HR, Nomination & Remuneration Committee and the Audit & Risk Management Committee. The Board meeting commenced at 02:50 p.m. IST and concluded at 03:40 p.m. IST.

Profile of the New CFO

Abhishek Maheshwari is a seasoned finance leader with over 21 years of experience across various facets of finance. His expertise includes business partnering, strategic planning, budgeting, financial reporting, investor relations, mergers and acquisitions, taxation, compliance, internal controls, and business modelling. He has significant exposure to financial governance frameworks, including US GAAP, Indian GAAP, and IFRS.

Prior to joining Indus Towers , Maheshwari led finance for Airtel's B2B Business as CFO. He previously served as CFO for Airtel's Direct to Home (DTH) Business for over four years. He has also held the position of Controller and headed the finance function for Airtel's AP & MPCG operations across Mobile, Telemedia, and DTH businesses.

Maheshwari began his career with Lodha & Company, handling statutory audits, tax audits, and consulting assignments. He later worked with Maruti Udyog Limited in budgeting and cost reporting roles. He completed his B. Com Hons and is a qualified Chartered Accountant from ICAI in 2005.

Appointment Details

The following table summarises the key details of the appointment:

For disclosures related to materiality and stock exchange communications, Maheshwari can be contacted at cfo.office@industowers.com or 0124-4296766.