Bajel Projects Limited — Capital/Financing Update 2024

Jul 2, 2024

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July 02, 2024

To, BSE Limited : Code No. 544042 Department of Corporate Services, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001

National Stock Exchange of India Limited : BAJEL – Series: EQ Listing Department Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai- 400 051

Dear Sir/Madam,

Sub.: Grant of 25,53,000 (Twenty-Five Lakhs Fi�y-Three Thousand Only) Stock Op�ons under the Bajel Projects Limited Employee Stock Op�on Plan 2024’ (“ESOP 2024”/ “Scheme”) | Disclosure under Regula�on 30 of the Securi�es and Exchange Board of India (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015, as amended (“SEBI Lis�ng Regula�ons”).

Pursuant to Regula�on 30 of the Lis�ng Regula�ons, we wish to inform that the Nomina�on and Remunera�on Commi�ee of the Company ("NRC/Commi�ee”) at its mee�ng held today i.e. on July 2, 2024, has approved a total grant 25,53,000 (Twenty Five Lakhs Fi�y Three Thousand Only) stock op�ons under Bajel Projects Limited – Employee Stock Op�ons Plan-2024 (“ESOP 2024”/ “Scheme”) to the eligible employees of the Company.

The details as required under Lis�ng Regula�ons read with SEBI circular no. SEBI/HO/CFD/CFDPoD- 1/P/CIR/2023/123 dated July 13, 2023 with respect to above grants is given in Annexure A .

We request you to take the above on record and that the same be treated as compliance under the applicable provisions of the SEBI PIT Regula�ons and Company’s Code.

Thanking you, Yours faithfully, For Bajel Projects Limited

Ajay Suresh Digitally signed by Ajay Suresh Nagle Nagle Date: 2024.07.02 11:09:43 +05'30' Ajay Nagle Execu�ve Director, Company Secretary & Chief Compliance Officer

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Annexure A

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a) Brief details of op�ons granted; 25,53,000 (Twenty-Five Lakhs Fi�y-Three Thousand Only) employee
stock op�ons (“Op�ons”) granted to the eligible employees as
determined by the Nomina�on and Remunera�on Commi�ee.
b) Whether the scheme is in terms Yes, the Scheme is in compliance with the SEBI (Share Based Employee
of SEBI (SBEB) Regula�ons, 2021 Benefits and Sweat Equity) Regula�ons, 2021.
(if applicable);
c) Total number of shares covered 25,53,000 (Twenty-Five Lakhs Fi�y-Three Thousand Only) exercisable
by these op�ons; into not more than 25,53,000 (Twenty-Five Lakhs Fi�y Three Thousand
Only) equity shares of face value of ₹2 (Rupee One Only) each fully paid-
up.
d) Pricing formula; The aforesaid Op�ons have been granted at an Exercise Price of
₹ 179.31 per op�on as approved by the Nomina�on and Remunera�on
Commi�ee. [Exercise Price calculated as a discount on the closing price
on NSE where the traded volume in the Company’s share was higher on
July 01,2024, i.e. the last trading date previous to the date of the
Commi�ee Mee�ng]
e) Op�ons vested; Nil
f) Time within which op�on may The vested Op�ons shall be exercisable within a
be exercised; maximum period of 7 years from the date of
first Ves�ng of Op�ons.
g) Op�ons exercised; Nil
h) Money realized by exercise of Nil
op�ons;
i) The total number of shares Nil
arising as a result of exercise of
op�on;
j) Op�ons lapsed; Nil
k) Varia�on of terms of op�ons; Not Applicable
l) Brief details of significant  The Scheme also provides for the manner in which
terms; Stock Op�ons would be dealt with in case of death,
permanent incapacity, resigna�on, termina�on,
re�rement etc.
 The equity shares allo�ed, pursuant to the exercise
of the Stock Op�ons, would not be subject to lock-
in.
 The aforesaid Op�ons shall vest not earlier than minimum period of
1 (one) year and not later than maximum period of 5 (five) years
from the Grant Date.
m) Subsequent changes or Not Applicable
cancella�on or exercise of such
op�ons;
n) Diluted earnings per share Op�ons are yet to be exercised
pursuant to issue of equity shares
on exercise of op�ons.
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