Tata Communications Limited has officially filed regulatory disclosures regarding the incorporation of its joint venture company TC (Shanghai) Technology Company Limited in China, marking a significant milestone in the telecommunications giant's expansion into the Chinese market.

Official Regulatory Filing Details

The company submitted its intimation to the National Stock Exchange of India Limited and BSE Limited on March 18, 2026, under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015. The filing was signed by Zubin Adil Patel, Company Secretary and Compliance Officer.

Joint Venture Incorporation Structure

The joint venture was incorporated on March 12, 2026, in the People's Republic of China, with the Certificate of Incorporation received from the Administration of Market Regulation of Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone.

Partnership Investment Framework

The joint venture is established between Tata Communications (Hong Kong) Limited, a wholly-owned indirect subsidiary of Tata Communications Limited, and Shanghai Runshengtong Management Consulting Co., Ltd. Both partners maintain equal shareholding and cash contributions.

Business Operations and Services Scope

TC Shanghai will operate comprehensive telecommunications services under licensed and general project categories. The business scope includes Category I and II Value-added Telecommunications Services, along with end-to-end technology services, software development, computer system services, data processing, and technology import-export services.

Strategic Market Positioning

This incorporation represents Tata Communications' strategic commitment to establishing a strong presence in the Chinese telecommunications market. The partnership combines Tata Communications' global technological expertise with Shanghai Runshengtong's local market knowledge and consulting capabilities. The joint venture agreement was originally executed on February 27, 2026, and the company has now completed all regulatory requirements for operations in the People's Republic of China.

Tata Communications announced that its Nomination and Remuneration Committee (NRC) has approved the grant of employee stock options to eligible employees under the company's Stock Unit Plan 2023. The decision was made on February 26, 2026, with the effective grant date set for March 1, 2026.

Stock Option Grant Details

The NRC approved the grant of 24,654 employee stock options, referred to as Restricted Stock Units (RSUs), to eligible employees. These options operate under the authority granted by shareholders at the company's 37th Annual General Meeting held on July 18, 2023.

Vesting and Exercise Terms

The RSUs incorporate both time-based and performance-based vesting criteria designed to align employee incentives with company performance. The vesting schedule provides flexibility while ensuring adequate commitment periods.

Key Vesting Parameters:

• Minimum vesting period: 1 year from grant date
• Maximum vesting period: 3 years from grant date
• Exercise window: Maximum 1 year from vesting date
• Current vested options: Nil
• Current exercised options: Nil

Regulatory Compliance

The stock option grant complies with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follows SEBI Circular ref. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Current Status

As of the grant date, no options have been vested, exercised, or lapsed. The RSUs represent a fresh allocation under the Stock Unit Plan 2023, with all 24,654 options in the pre-vesting stage. Once the vesting criteria are satisfied and confirmed by the NRC, eligible employees will have the opportunity to exercise their options within the specified timeframe.