Billionbrains Garage Ventures Limited has issued a postal ballot notice dated December 19, 2025, seeking shareholder approval for comprehensive amendments to its Employee Stock Option Scheme and other corporate initiatives. The notice outlines five special resolutions requiring member approval through remote e-voting.

Postal Ballot Details and Timeline

The company has engaged MUFG Intime India Private Limited as the registrar and share transfer agent for the postal ballot process. The remote e-voting period is scheduled from December 20, 2025, at 09:00 a.m. IST to January 18, 2026, at 05:00 p.m. IST.

Employee Stock Option Scheme Amendments

The primary resolution seeks approval for amendment and ratification of the Billionbrains Garage Ventures Limited Employee Stock Option Scheme 2024. The amendments focus on changing the implementation route from direct allotment to trust-based execution through the Groww Employee Welfare Trust.

Extension to Subsidiary and Associate Companies

The second resolution proposes extending ESOP benefits to eligible employees of subsidiary and associate companies, both in India and overseas. This expansion aligns with SEBI regulations requiring separate shareholder approval for such extensions.

Secondary Acquisition and Funding Provisions

Two additional resolutions address the operational aspects of the trust-based ESOP implementation:

Articles of Association Amendment

The fifth resolution seeks to amend the Articles of Association to incorporate director nomination rights. The proposed changes include:

• PeakXV Partners Investments VI-1 retains right to nominate a non-executive director while holding the most equity shares and at least 10% of outstanding shares
• Each founder (Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh) maintains director nomination rights as long as they remain promoters

Regulatory Compliance and Process

All proposed resolutions comply with SEBI regulations, including the Share Based Employee Benefits and Sweat Equity Regulations, 2021, and Listing Obligations and Disclosure Requirements Regulations, 2015. The company confirmed no grants have been made under the scheme since the equity shares listing on November 12, 2025.

The postal ballot notice and explanatory statements are available on the company's website and will be published in English and Kannada newspapers. Members can inspect relevant documents by contacting corp.secretarial@groww.in during the voting period.

Investment firm Jefferies has initiated coverage on Groww with a Buy rating, setting a target price of ₹180.00 for the financial services platform.

Analyst Recommendation

The brokerage firm's initiation of coverage with a Buy rating indicates a positive outlook for the company's stock performance. The target price of ₹180.00 suggests potential upside from current levels.

Jefferies' initiation of coverage signals confidence in Groww's business model and future prospects. This move by a prominent investment firm may attract attention from other investors and potentially impact the stock's performance.

Note: Detailed financial analysis, rationale for the rating, and supporting metrics are not available in the current data.