Nippon Life India Asset Management Limited announced the allotment of 7,60,691 equity shares under various Employee Stock Option Plans (ESOP) and Performance Stock Unit (PSU) schemes. The Allotment Committee approved these allotments during its meeting held on March 23, 2026, which commenced at 11:00 a.m. and concluded at 11:15 a.m.

ESOP Allotment Details

The allotment was conducted under four different schemes, with varying grant prices and total amounts received:

NAM INDIA ESOP 2019 Breakdown

The NAM INDIA ESOP 2019 allotment comprised shares at different grant prices:

• 1,33,248 shares at Rs. 223.32 per share totaling Rs. 2,97,56,943.36
• 2,255 shares at Rs. 247.60 per share totaling Rs. 5,58,338.00
• 27,987 shares at Rs. 372.71 per share totaling Rs. 1,04,31,034.77

Impact on Share Capital

Following the allotment, the company's paid-up equity share capital structure changed significantly:

Scheme Details

The allotment covered multiple employee benefit schemes:

• NAM INDIA ESOP 2017: Formerly known as Reliance Nippon Life Asset Management Limited – Employee Stock Option Plan 2017
• NAM INDIA ESOP 2019: Employee Stock Option Plan established in 2019
• NAM INDIA ESOP 2023: Employee Stock Option Scheme launched in 2023
• NAM INDIA PSU 2023: Performance Linked Stock Unit Scheme introduced in 2023

All newly allotted equity shares carry a face value of Rs. 10 each and will rank pari passu with the existing equity shares of the company in all respects. The total amount received from all allotments was Rs. 15,08,93,923.23, demonstrating the company's commitment to employee participation in its growth story through equity-based compensation schemes.

Nippon Life India Asset Management Limited has formally executed its strategic partnership with DWS Group following board approval on March 14, 2026. The company's Board of Directors approved the execution of key agreements that will bring in the prominent European asset manager as a minority partner in its alternative investment funds subsidiary.

Board Approval and Agreement Execution

The Board meeting, held from 12:35 PM to 1:35 PM on March 14, 2026, approved the execution of a Shareholder's Agreement between the company, NAIF, and DWS Group. The board also took note of the Share Subscription Agreement being executed between NAIF and DWS for the proposed equity subscription.

Transaction Structure and Financial Terms

DWS Group will acquire a 40% equity stake in Nippon Life India AIF Management Limited (NAIF) through a preferential allotment of equity shares. The transaction represents a significant investment in India's alternative investment management sector.

NAIF's Financial Contribution

NAIF has demonstrated solid contribution to the parent company's financial performance during the last financial year, establishing its significance within the group's operations.

Regulatory Approvals and Timeline

The transaction is subject to multiple regulatory approvals and conditions precedent. The company has outlined a comprehensive timeline for completion with specific regulatory requirements.

DWS Group Profile and Strategic Value

DWS Group brings substantial global expertise to this partnership as a leading European asset manager. With EUR 1,085 billion in total assets under management as of December 31, 2025, DWS employs approximately 5,000 people across offices worldwide. The organization offers comprehensive investment solutions across Active, Passive, and Alternative asset management disciplines, making it an ideal partner for expanding India's alternative investment funds franchise.

Governance Framework and Future Structure

The Shareholder's Agreement establishes comprehensive governance frameworks including board composition arrangements, senior management appointment processes, and reserved matters requiring DWS's consent. The agreement incorporates standard protective provisions such as put-option and exit rights for DWS, along with information-sharing obligations, transfer restrictions, and lock-in provisions. Following completion, NAIF will cease to be a wholly owned subsidiary but will continue as a subsidiary of Nippon Life India Asset Management Limited.