News Corporate Actions Alicon Castalloy Issues Postal Ballot Notice for Employee Stock Option Scheme-2026 ApprovalAlicon Castalloy Issues Postal Ballot Notice for Employee Stock Option Scheme-2026 Approval
Alicon Castalloy Limited has issued a postal ballot notice for shareholder approval of its Employee Stock Option Scheme-2026, proposing 3,00,000 stock options for eligible employees. The e-voting period runs from February 26 to March 27, 2026, with a cut-off date of February 20, 2026. The scheme features a maximum vesting period of 4 years and exercise period of 5 years, with up to 25% discount to market price and individual limits of 1,50,000 options per employee.
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Alicon Castalloy Limited has issued a postal ballot notice seeking shareholder approval for its proposed Employee Stock Option Scheme-2026 (ESOS-2026). The notice, dated February 19, 2026, outlines the company's initiative to implement an equity-based compensation program for its employees.
Key Details of the Postal Ballot
The postal ballot process has been structured with specific timelines and procedures for shareholder participation:
| Parameter | Details |
|---|---|
| Cut-off Date | February 20, 2026 |
| E-voting Period | February 26, 2026 (9:00 AM) to March 27, 2026 (5:00 PM) |
| Results Declaration | On or before March 30, 2026 |
| Scrutinizer | Mr. Avinash Joshi, Senior Advocate |
The company has engaged National Securities Depository Limited (NSDL) as the e-voting service provider, with voting conducted exclusively through electronic mode in compliance with MCA circulars.
ESOS-2026 Scheme Features
The proposed Employee Stock Option Scheme-2026 represents a comprehensive employee benefit program designed to align employee interests with corporate growth objectives:
| Scheme Parameter | Specification |
|---|---|
| Total Options | 3,00,000 (three lacs) |
| Face Value per Share | ₹5 |
| Maximum Vesting Period | 4 years from grant date |
| Exercise Period | 5 years from vesting date |
| Maximum Discount | 25% to market price |
| Individual Limit | 1,50,000 options per employee |
Eligibility Criteria
The scheme covers permanent employees of the company including whole-time directors, with specific exclusions for:
- Promoters and promoter group members
- Independent directors
- Directors holding more than 10% equity shares
The Nomination and Remuneration Committee will serve as the Compensation Committee for scheme administration, with authority to determine eligibility based on performance parameters, tenure, and contribution to corporate growth.
Vesting and Exercise Framework
The ESOS-2026 incorporates a structured approach to option vesting and exercise:
Vesting Requirements:
- Based on continuation of employment
- Subject to individual performance parameters
- Committee discretion on vesting schedules within maximum 4-year period
Exercise Process:
- Written application to the company
- Payment of exercise price
- Satisfaction of applicable tax obligations
- Options lapse if not exercised within specified period
Corporate Governance and Compliance
The scheme adheres to regulatory requirements under the Companies Act, 2013, and SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The company will follow Indian Accounting Standards for option valuation using the intrinsic/fair value method.
Key compliance features include:
- Fresh issue of shares (no secondary acquisition)
- No lock-in period except regulatory restrictions
- Adjustment provisions for corporate actions
- Regular disclosure requirements
The Board of Directors has recommended the resolution for shareholder approval, emphasizing the scheme's role in attracting and retaining key talent while motivating employees to contribute to overall corporate growth and profitability.
Source: None/Company/INE062D01024/1ecaed9a-83e8-4ab1-bc37-831b22eaf7e2.pdf
Historical Stock Returns for Alicon Castalloy
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.05% | -2.97% | +17.96% | -6.39% | -0.74% | +86.86% |
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