SWELECT Energy Systems Limited has secured in-principle approval from both the National Stock Exchange of India Limited (NSE) and BSE Limited for listing equity shares under its Employee Stock Option Scheme 2025. The approvals, dated December 12, 2025, cover up to 3,03,175 equity shares of ₹10 each to be issued to employees under the company's stock option scheme.

Exchange Approvals and References

Both major Indian stock exchanges have granted their consent for the ESOP listing through official communications. The details of the approvals are as follows:

Regulatory Framework and Compliance

The approvals have been granted under the Securities Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, and are subject to compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has fulfilled the initial requirements by submitting statements under Regulation 10(b) as mandated by SEBI regulations.

Listing Conditions and Requirements

Both exchanges have specified several conditions that must be met before final listing approval:

Key Compliance Requirements:

• Notification to exchanges as per Regulation 10(c) after actual allotment of securities
• Credit to beneficiaries' accounts or dispatch of share certificates
• Receipt of all statutory and regulatory approvals from SEBI, RBI, MCA, and other authorities
• Compliance with Companies Act provisions and applicable laws
• Submission of required documentation as specified in exchange checklists

Documentation and Future Steps

The exchanges have outlined specific documentation requirements for final approval, including certified copies of board resolutions for allotment, lists of allottees with share details, and confirmation from depositories regarding credit of shares. The company must also provide details of employees receiving options exceeding specified thresholds and information about any director participation in the scheme.

Scheme Overview

The SWELECT Employees Stock Option Scheme 2025 represents the company's initiative to provide equity participation opportunities to its workforce. Each equity share carries a face value of ₹10, and the scheme allows for a maximum issuance of 3,03,175 shares upon exercise of options by eligible employees.

The company has informed both exchanges about receiving the in-principle approvals and has requested them to note the development in their records. The final trading permission will be granted by the exchanges upon fulfillment of all specified conditions and proper compliance verification.

SWELECT Energy Systems Limited successfully completed its postal ballot process on November 18, 2025, with shareholders overwhelmingly approving five critical resolutions that strengthen the company's leadership structure and operational framework.

Postal Ballot Process Completion

The postal ballot proceedings were conducted at the company's registered office in Chennai, with Chairman S. Annadurai and Company Secretary J. Bhuvaneswari physically present. The remote e-voting process was managed through Central Depository Services (India) Limited (CDSL) portal, with P. Eswaramoorthy and Company, Company Secretaries, Coimbatore serving as scrutinizers.

Leadership Appointments

Shareholders approved comprehensive leadership changes with five-year terms for key positions:

Executive Remuneration Structure

The approved remuneration packages reflect the strategic importance of these appointments:

Related Party Transactions

Shareholders approved material related party transactions worth up to ₹350.00 crores with subsidiary ESG Green Energy Private Limited. These transactions cover sale and purchase of solar panels and allied products, investments, loans, guarantees, and property leasing arrangements for the period 2025-2027.

Voting Results

All resolutions received exceptional shareholder support:

The completion of this postal ballot process positions SWELECT Energy Systems with a strengthened leadership team and approved transaction framework to execute its strategic initiatives in the renewable energy sector.