Avantel Limited has completed the allotment of 52,780 equity shares to its eligible employees under the Avantel Employees Stock Option Plan 2023 (ESOP 2023). The ESOP Allotment Committee approved this allotment on February 27, 2026, pursuant to the exercise of stock options by employees.

Share Allotment Details

The allotted shares carry a face value of Rs.2 each and were issued at an exercise price of Rs.50 per share, with a premium of Rs.48 per share. The shares were allotted under the company's employee stock option scheme to reward and retain talent within the organization.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up equity share capital. The total number of equity shares outstanding has risen from 26,56,58,070 shares to 26,57,10,850 shares.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was filed with both BSE Limited and National Stock Exchange of India Limited, where Avantel's shares are listed under scrip code 532406 and symbol AVANTEL respectively.

The newly issued shares are identical in all respects to the existing equity shares and rank pari passu with them. The distinctive numbers for the newly allotted shares range from 26,56,58,071 to 26,57,10,850, and they carry the same ISIN number INE005B01027 as the existing shares.

ESOP Scheme Background

The Avantel Employees Stock Option Plan 2023 was established to provide employees with an opportunity to participate in the company's growth and success. The scheme allows eligible employees to exercise their vested options and acquire equity shares in the company at predetermined prices, fostering employee ownership and alignment with shareholder interests.

Avantel Limited has announced the resignation of Mrs. Mini Ipe from her position as Independent Director, effective February 21, 2026. The resignation was submitted due to preoccupation and certain unexpected personal commitments, as disclosed in the company's regulatory filing under SEBI regulations.

Resignation Details

Mrs. Mini Ipe, holding Director Identification Number (DIN) 07791184, tendered her resignation from the Board of Directors with immediate effect from February 21, 2026. The company received formal notification through a resignation letter, which has been included as part of the regulatory disclosure.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer D Rajasekhara Reddy signed the regulatory filing, ensuring compliance with all statutory requirements.

Mrs. Ipe provided confirmation that there are no other material reasons for her resignation beyond those mentioned in her resignation letter. She also confirmed that there are no material concerns or issues with respect to the management or affairs of the company.

Other Directorships

As part of the regulatory disclosure, Avantel Limited provided details of Mrs. Mini Ipe's directorships in other listed companies:

Committee Positions

Mrs. Ipe also held various committee positions in these listed companies:

• Axis Bank Limited: Member of Audit Committee and Nomination and Remuneration Committee
• PTC India Financial Services Limited: Member of Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee and Risk Management Committee

Acknowledgment

In her resignation letter, Mrs. Ipe expressed appreciation for the cooperation, guidance, and support extended by the Chairman, Board Members, and management team during her tenure. She described her service on the Board of Avantel Limited as a privilege and valuable learning experience.

The company has committed to filing the necessary forms with the Registrar of Companies and other statutory authorities as required by law following the resignation.