Nuvama Wealth Management Limited announced on May 11, 2026, the grant of 93,930 Employee Stock Appreciation Rights (ESARs) to eligible employees under the 'Nuvama Wealth Employee Stock Appreciation Rights Plan 2024'. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in accordance with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Key Details of the ESAR Grant

The grant covers not more than 93,930 equity shares of the company and is compliant with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The following table summarises the key parameters of the grant:

Pricing Formula and Settlement Terms

The ESAR price for each grant is determined by the Nomination and Remuneration Committee. It is calculated as the average of the daily opening and closing price of the company's equity shares, as quoted on the recognised stock exchange where the trading volume is higher, across each of the 20 trading days immediately prior to the relevant date.

Once vested and exercised, the ESARs entitle the holder to receive appreciation on a specified number of equity shares of the company. Settlement of such appreciation is made in the form of equity shares of the company, upon payment of the exercise price and applicable taxes, in accordance with the terms and conditions of the Plan.

Applicable Disclosures

Since the current disclosure pertains solely to the grant of ESARs, several parameters are not applicable at this stage. These include:

• ESARs exercised
• Money realised by exercise of ESARs
• Total shares arising from exercise of ESARs
• ESARs lapsed
• Subsequent changes, cancellation, or exercise of ESARs
• Diluted earnings per share pursuant to the issue of equity shares on exercise of ESARs

No variation of terms has been reported in connection with this grant. The disclosure was signed by Sneha Patwardhan, Company Secretary and Compliance Officer of Nuvama Wealth Management Limited.

Nuvama Wealth Management Limited informed the stock exchanges on May 7, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that its wholly owned material subsidiary, Nuvama Wealth and Investment Limited (NWIL), has received an administrative warning letter from the Securities and Exchange Board of India (SEBI). The letter, dated May 6, 2026, advises NWIL to exercise caution and avoid recurrence of the observations noted during a comprehensive regulatory inspection.

Nature of the Regulatory Action

The administrative warning letter issued by SEBI pertains to observations related to NWIL's broking and depository operations, with specific reference to the Cybersecurity and Cyber Resilience Framework. SEBI has directed NWIL to be careful and ensure that the observations raised do not recur in the future. The disclosure was made pursuant to Regulation 30 read with Para A of Part A of Schedule III of the Listing Regulations.

The key details of the regulatory action, as disclosed in Annexure I of the company's filing, are summarised below:

Background of the Inspection

The observations cited in the warning letter are consequent to a comprehensive inspection conducted jointly by SEBI, Exchanges, and Depository Participants, covering the period October 1, 2024 to September 30, 2025. The inspection had concluded in February 2026. The warning letter represents SEBI's administrative communication to NWIL, indicating areas requiring attention in its broking and depository operations, particularly with respect to the Cybersecurity and Cyber Resilience Framework.

No Financial or Operational Impact

Nuvama Wealth Management Limited has explicitly stated that the receipt of the warning letter has no impact on the financials, operations, or other activities of the company or its subsidiaries and associates. The company confirmed this position both in its regulatory filing and in the detailed Annexure submitted to the exchanges. The disclosure was signed by Sneha Patwardhan, Company Secretary and Compliance Officer of Nuvama Wealth Management Limited.