VIP Industries has announced the approval of Employee Stock Appreciation Rights (ESARs) grant under its established employee benefits program. The company's board committee has approved granting 1,20,000 Employee Stock Appreciation Rights to eligible employees at ₹388.00 per share under its ESARP 2018 plan.

ESAR Grant Details

The committee has sanctioned the grant of 1,20,000 ESARs to eligible employees of the company and its subsidiaries under the VIP Employees Stock Appreciation Rights Plan 2018. This grant represents a significant allocation under the company's structured employee benefit scheme.

Vesting and Exercise Framework

The announcement reveals that 15.74 lakh ESARs from previous grants have achieved vested status. These vested ESARs carry specific exercise parameters that provide flexibility to beneficiaries while maintaining structured timelines.

Regulatory Compliance and Approvals

The ESAR scheme operates in full compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations 2021. VIP Industries has secured in-principle approval from the stock exchanges where it maintains listing status, ensuring regulatory adherence.

The company submitted the ESARP 2018 plan documentation to exchanges during the in-principle approval process, establishing the framework for current and future grants. This regulatory foundation supports the systematic implementation of employee stock appreciation benefits.

Strategic Employee Benefits Initiative

The ESAR grant reflects VIP Industries' structured approach to employee retention and motivation through equity-linked benefits. The pricing at ₹388.00 per share establishes a clear benchmark for the appreciation rights, while the five-year exercise window provides recipients with strategic flexibility in timing their benefits realization.

VIP Industries has strengthened its senior management team with the appointment of Mr. Sameer Wanchoo as Chief Marketing Officer, effective December 22, 2025. The appointment was approved by the Board of Directors through a Board Circular Resolution based on the recommendation of the Nomination and Remuneration Committee.

Appointment Details

The key details of Mr. Wanchoo's appointment are outlined below:

Professional Background

Mr. Sameer Wanchoo brings substantial marketing expertise to VIP Industries. He holds a Post Graduate Diploma in Marketing from K.J. Somaiya Institute of Management Studies and Research, providing him with a strong academic foundation in marketing principles.

His professional experience includes a significant tenure as Chief Marketing Officer at Eureka Forbes Limited, where he demonstrated exceptional capabilities across multiple areas:

• Launching new technologies and innovative solutions
• Co-creating award-winning product designs
• Re-staging brands for enhanced market positioning
• Enhancing consumer experience across E-commerce and Direct-to-Consumer (D2C) channels

Industry Experience

Prior to his role at Eureka Forbes, Mr. Wanchoo gained valuable experience working with several reputed organizations in the consumer goods sector. His professional journey includes associations with:

• Cavin Kare Limited: Contributing to the personal care and food products company's marketing initiatives
• Dabur India Limited: Working with one of India's leading consumer goods companies known for health care and personal care products

Strategic Implications

The appointment of Mr. Wanchoo as Chief Marketing Officer represents VIP Industries' commitment to strengthening its marketing capabilities and senior management team. His extensive experience in launching new technologies, product design, and enhancing consumer experiences across digital channels aligns well with the evolving needs of the luggage and travel accessories industry.

VIP Industries has formally communicated this appointment to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full compliance with regulatory requirements.