Metro Brands Limited Announces Cessation of Independent Director Mr. Srikanth Velamakanni

Metro brands Limited has announced the cessation of Mr. Srikanth Velamakanni as Independent Director, effective from the closure of business hours on March 24, 2026. The cessation occurred upon completion of his term of appointment as an Independent Director of the company.

Regulatory Compliance and Disclosure

The company has informed both BSE Limited and National Stock Exchange of India Limited about this board change in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made pursuant to the relevant SEBI Master Circular dated January 30, 2026.

Director Details and Cessation Information

The following table provides comprehensive details about the directorship cessation:

Particulars:	Details
Name and Designation:	Mr. Srikanth Velamakanni – Independent Director
Director Identification Number:	01722758
Reason for Change:	Cessation upon completion of his term of appointment as an Independent Director
Effective Date:	March 24, 2026 (closure of business hours)

Communication to Stock Exchanges

The intimation was formally communicated to both major stock exchanges where Metro Brands Limited shares are listed. The company provided detailed annexure containing all required information as per SEBI regulations. Company Secretary and Compliance Officer Deepa Sood signed the communication on behalf of Metro Brands Limited.

Information Availability

As per standard practice, the company has made this information available on its official website at www.metrobrands.com for stakeholder reference. This ensures transparency and compliance with disclosure requirements for listed companies.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.98%	-0.16%	-11.21%	-24.93%	-9.97%	+90.17%

Metro Brands Limited has announced the allotment of 69,263 equity shares under its Employee Stock Option Plan (ESOP 2008) on March 16, 2026. The Share Allotment and Transfer Committee of the Board of Directors approved the allotment through a resolution passed by circulation to eligible grantees who exercised their stock options.

Share Capital Impact

The allotment has resulted in an increase in the company's paid-up share capital structure:

Parameter	Before Allotment	After Allotment
Paid-up Share Capital	₹ 1,36,23,87,375	₹ 1,36,27,33,690
Total Equity Shares	27,24,77,475	27,25,46,738
Par Value per Share	₹ 5	₹ 5

Exercise Price Details

The 69,263 equity shares were allotted at different exercise prices based on the grant tranches:

Number of Shares	Exercise Price per Share	Premium per Share
66,834	₹ 228.00	₹ 223.00
1,707	₹ 488.25	₹ 483.25
522	₹ 563.36	₹ 558.36
200	₹ 649.95	₹ 644.95

Regulatory Compliance

The allotment was conducted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided detailed information as required under Regulation 10(c) of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Key regulatory details include:

ISIN Number: INE317I01021
Distinctive Numbers: 27,24,77,476 to 27,25,46,738
Allotment Date: March 16, 2026
Lock-in Period: Not applicable

Share Characteristics

The newly allotted shares are identical in all respects to the existing equity shares of the company. Metro Brands clarified that this allotment is not material in nature to the company's operations. The shares are listed on both BSE Limited (Scrip Code: 543426) and National Stock Exchange of India Limited (Symbol: METROBRAND).

The company's registered office is located at 401, Zillion, 4th Floor, LBS Marg & CST Road Junction, Kurla (West), Mumbai – 400070. The notification was signed by Deepa Sood, Senior VP – Legal, Company Secretary & Compliance Officer, with membership number 16019.