Vikram Solar Limited has announced the grant of employee stock options under its Employee Stock Option Plan 2021, marking a significant step in its employee incentive program. The company's Nomination and Remuneration Committee (NRC) approved this grant of 17,22,000 employee stock options to eligible employees of the company and its group associate companies.

Stock Option Grant Details

The committee has approved the issuance of 17,22,000 employee stock options to eligible employees of Vikram Solar and its group associate companies. This substantial grant demonstrates the company's commitment to employee participation in its growth story.

Vesting and Exercise Terms

The granted stock options come with specific terms and conditions designed to align employee interests with long-term company performance. The options have been structured with a minimum vesting period to ensure employee retention and commitment.

Regulatory Compliance

The stock option grant has been made in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The company has fulfilled all disclosure requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The exercise price of ₹210.69 per option has been determined by the Nomination and Remuneration Committee and subsequently ratified by the Board of Directors, ensuring proper governance in the pricing mechanism. Each granted option is exercisable into equity shares of face value ₹10.00, fully paid.

Employee Incentive Strategy

This employee stock option grant represents Vikram Solar's strategy to attract, retain, and motivate talented employees by providing them with an opportunity to participate in the company's future growth. The plan covers employees across the company and its group associate companies, ensuring broad-based participation in the incentive program.

The company has structured the vesting schedule to be specified in individual grant letters, allowing for customized arrangements based on employee roles and performance criteria. This approach provides flexibility while maintaining the overall framework of the ESOP 2021 plan.

Vikram Solar has received board approval for a substantial ₹4,371.00 crore capital expenditure to launch the first phase of its Battery Energy Storage System (BESS) roadmap. The investment will be channeled through the company's subsidiary, VSL Powerhive, marking a significant strategic expansion into the energy storage sector.

Investment Details

The approved capital expenditure represents a major commitment as Vikram Solar ventures into battery energy storage solutions. The following table outlines the key parameters of this investment:

Strategic Expansion Initiative

This investment decision reflects Vikram Solar's strategic move to diversify its renewable energy portfolio beyond traditional solar manufacturing and installation services. The Battery Energy Storage System initiative positions the company to capitalize on the growing demand for energy storage solutions in India's renewable energy landscape.

The execution through VSL Powerhive, the company's subsidiary, indicates a structured approach to managing this new business vertical while maintaining operational focus on existing solar operations.

Market Positioning

The substantial capital expenditure of ₹4,371.00 crores demonstrates Vikram Solar's confidence in the energy storage market potential. Battery Energy Storage Systems play a crucial role in grid stability and renewable energy integration, making this investment strategically aligned with India's renewable energy goals.

This development positions Vikram Solar as a comprehensive renewable energy solutions provider, combining solar generation capabilities with energy storage infrastructure through its phased BESS roadmap.