Mahindra & Mahindra Limited has completed the transfer of 50,199 equity shares from its Employees' Stock Option Trust to 50 stock option grantees on January 14, 2026. The transfers were executed under the company's Employee Stock Option Scheme, with employees exercising their vested stock options.

Stock Option Exercise Details

The company informed major stock exchanges including the National Stock Exchange of India, BSE Limited, Luxembourg Stock Exchange, and London Stock Exchange about these transfers. This notification was made in compliance with the undertaking given at the time of listing shares that were allotted to the Mahindra & Mahindra Employees' Stock Option Trust.

Major Beneficiaries

The stock option exercises showed significant variation in allocation among employees, with senior executives receiving substantial allocations:

Complete Exercise Summary

The total of 50,199 stock options were distributed among 50 employees, ranging from small allocations of 25 options to the largest single allocation of 19,558 options. Notable participants included:

• Senior Management: Rajesh Jejurikar and Ruzbeh Irani received the two largest allocations
• Mid-level Executives: Several employees received allocations between 1,000-2,000 options
• Broad Participation: The scheme included employees across various levels with allocations as small as 25 options

Compliance and Documentation

The transfer was formally documented and signed by Sailesh Kumar Daga, Company Secretary, on January 14, 2026. The company maintained full compliance with exchange requirements by providing detailed lists of all beneficiaries and their respective option exercises to all relevant stock exchanges where Mahindra & Mahindra shares are listed.

One notable inclusion was the legal heir Mrs. Smita Tanaji Patil, who exercised 40 options on behalf of Lt. Tanaji Patil, demonstrating the scheme's provisions for inheritance cases. The comprehensive list covered employees from various departments and seniority levels, reflecting the broad-based nature of the company's employee stock option program.

Mahindra & Mahindra has announced a remarkable milestone for its newest SUV offerings, recording 93,689 consolidated bookings for the XEV 9S and XUV 7XO models. The bookings, recorded till 2:00 pm on January 14, 2026, translate to a booking value exceeding ₹20,500 crore calculated at ex-showroom price.

Record-Breaking Booking Performance

The impressive booking numbers demonstrate strong market reception for both vehicles. The company had previously launched the XEV 9S on November 27, 2025, followed by the XUV 7XO launch on January 5, 2026.

Strategic Market Positioning

Mahindra continues to strengthen its leadership position in India's SUV segment through these new launches. The XEV 9S and XUV 7XO represent the company's commitment to offering customers compelling choices across multiple powertrains - electric, diesel, and petrol - aligned to distinct usage needs and evolving preferences in the authentic SUV segment.

The company emphasizes its consistent leadership in India's SUV growth story by building category-defining products and scaling them with strong manufacturing capabilities and product innovation.

Delivery Schedule

Mahindra has outlined a phased delivery approach across its dealership network:

Company Background

Founded in 1945, the Mahindra Group operates as one of the largest multinational federations with 324,000 employees across over 100 countries. The group maintains leadership positions in farm equipment, utility SUVs, information technology, and financial services in India, while holding the distinction of being the world's largest tractor company by volume.

The conglomerate maintains a strong presence across multiple sectors including renewable energy, agriculture, logistics, hospitality, and real estate. The Mahindra Group focuses on leading ESG globally, enabling rural prosperity, and enhancing urban living, with a goal to drive positive change in communities and stakeholder lives.