Arvind SmartSpaces Limited has issued additional clarification regarding the exercise price for its Employee Stock Option Plan (ESOP) schemes following feedback from proxy advisors. The company provided this information on March 5, 2026, to bring greater clarity to shareholders ahead of the postal ballot voting on Special Resolutions No. 8 to 10.

Proxy Advisor Concerns

Proxy advisors raised concerns about the lack of clarity regarding exercise pricing for the company's ESOP schemes. They emphasized that stock options granted at significant discounts to market price create misalignment between investor and employee interests, noting that ESOPs should follow good practice by being granted at market price to maintain proper alignment.

Company's Pricing Clarification

In response to the feedback, Arvind SmartSpaces provided specific details about its exercise pricing methodology:

The company confirmed that options available for fresh grant, along with any lapsed options added back to the pool, will be granted at an exercise price equal to the latest available closing price prior to the date of the Board meeting in which options are granted.

Revised Exercise Price Formula

The company has updated the exercise price clause for Special Resolutions No. 8 and 9 in the postal ballot notice dated February 10, 2026. The revised pricing formula states that options will be granted at the latest available closing price prior to the Board meeting date on the stock exchange where the company's equity shares are listed. When shares are listed on multiple exchanges, the exchange with the highest trading volume on the grant date will be considered for pricing purposes.

Postal Ballot Resolutions

The clarification specifically addresses three special resolutions under consideration:

• Resolution No. 8: Amendments to Arvind Infrastructure Limited Employee Stock Option Plan 2016 (AIL ESOP 2016)
• Resolution No. 9: Secondary acquisition of shares through Trust route for AIL ESOP 2016 implementation
• Resolution No. 10: Provision of money by the company for share purchase by trust under both ASL-ESOS 2025 and AIL ESOP 2016

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has made this information available on its website and communicated it to both BSE Limited and National Stock Exchange of India Limited to ensure proper dissemination to all stakeholders.

Ketan Ratilal Patel has acquired additional shares in Arvind Smartspaces Ltd, increasing his stake in the real estate development company through an open market transaction. The acquisition was disclosed under Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

The share acquisition involved a purchase of 7,000 equity shares carrying voting rights through the open market. This transaction represents a modest 0.02% increase in Patel's shareholding in the company.

Shareholding Pattern Changes

Following the acquisition, Patel's total shareholding in Arvind Smartspaces has increased marginally from 5.68% to 5.70%. The transaction also involves Krishna Ketan Patel as a person acting in concert (PAC), who maintains a minimal holding of 900 shares.

Company Information

Arvind Smartspaces Ltd maintains its equity shares listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The company's total equity share capital remains unchanged at 4,58,66,979 shares following this transaction.

Regulatory Compliance

The disclosure confirms that Ketan Ratilal Patel does not belong to the promoter or promoter group of Arvind Smartspaces. The acquisition was properly reported under SEBI regulations, with all necessary documentation and signatures provided by both the acquirer and the person acting in concert.

The transaction represents a routine equity investment through public market channels, with the acquirer maintaining transparency through regulatory filings as required under Indian securities law.