Nuvama Wealth Management approved the grant of 79,38,556 Employee Stock Appreciation Rights (ESARs) to eligible employees on September 1, 2026. The Nomination and Remuneration Committee (NRC) sanctioned the grants under the company’s 2026 ESAR scheme.

The decision aligns with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company disclosed the details to the BSE and NSE on the same day.

Grant Structure and Vesting

The total grant comprises 79,38,556 ESARs. The vesting schedule is split into two distinct tranches based on employee eligibility:

• 73,93,366 ESARs will vest in annual tranches over five years.
• 5,45,190 ESARs will vest in equal annual tranches over four years.

Employees have two years from the date of vesting to exercise these rights. The settlement of appreciated value occurs through equity shares upon payment of the exercise price and applicable taxes.

Pricing Mechanism

The ESAR price equals the market price of the shares on the date immediately prior to the grant date. Market price is defined as the closing price on the recognized stock exchange with higher trading volume if listed on multiple exchanges.

What the Numbers Show

The majority of the grant (73,93,366 out of 79,38,556) is tied to a longer five-year vesting period. This structure suggests a focus on long-term retention for the bulk of eligible employees, while a smaller cohort (5,45,190 ESARs) benefits from a slightly accelerated four-year timeline.

Nuvama Wealth Management Limited has scheduled its 33rd Annual General Meeting for Monday, September 28, 2026. The meeting will commence at 3:30 pm and will be conducted through Video Conferencing or Other Audio-Visual Means in compliance with regulatory guidelines.

Meeting Details

The company notified the stock exchanges on September 1, 2026, regarding the upcoming shareholder meeting. The notice was published in Financial Express (English) and Navshakti (Marathi) newspapers on the same date.

Shareholders can access the notice and annual report via the company’s website at www.nuvama.com . The documents are also available on the BSE and NSE websites, as well as on the MUFG Intime India Private Limited portal.

Participation and Voting

Members can attend the meeting exclusively through the VC/OAVM facility. Attendance via these modes will count toward determining the quorum under Section 103 of the Companies Act, 2013.

The company is providing a remote e-voting facility for all resolutions set out in the AGM notice. Additionally, e-voting will be available during the meeting. Members who have not registered their email addresses can still cast their votes using the remote e-voting system.

Key Dates and Logistics

Members holding shares in physical form or non-individual members acquiring shares after the dispatch of the electronic notice can obtain User ID and Password credentials by contacting the RTA at rt.helpdesk@in.mpm.mufg.com . Existing registered users can utilize their current credentials for voting.

The company requests members to update their email addresses, PAN, nominations, and bank account details with their Depository Participants or the Registrar and Transfer Agent to ensure smooth communication and dividend processing.