Elgi Equipments Ltd. — Capital/Financing Update 2025

May 28, 2025

May 28, 2025

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Na�onal Stock Exchange of India Limited (NSE) Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (E), Mumbai - 400 051

NSE Symbol: ELGIEQUIP

BSE Limited (BSE) Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001

BSE Scrip Code: 522074

Dear Madam/ Sir,

Subject: Grant of stock op�ons under ELGi Equipments Limited Employees Stock Op�on Plan, 2019

Pursuant to Regula�on 30 of the SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015 (“Lis�ng Regula�ons”) and SEBI Master Circular No. SEBI/HO/CFD/PoD2/ CIR/P/0155 dated November 11, 2024, as amended from �me to �me (“SEBI Master Circular”), we hereby inform you that the Nomina�on and Remunera�on Commi�ee of the Company at its mee�ng held today, has approved the grant of 6,09,400 stock op�ons to the eligible employees of the Company and its subsidiaries under the ELGi Equipments Limited Employees Stock Op�on Plan, 2019.

Details as required in accordance with Regula�on 30 of Lis�ng Regula�ons read with SEBI Master Circular are given in the enclosed Annexure.

The Nomina�on and Remunera�on Commi�ee mee�ng was commenced at 12:15 PM and concluded at 13:18 PM.

The above is for your informa�on and record. This informa�on is also being hosted on the website of the Company.

Thanking you,

Yours faithfully

FOR ELGI EQUIPMENTS LIMITED

DEVIKA Digitally signed by DEVIKA SATHYANA SATHYANARAYANA Date: 2025.05.28 RAYANA 13:23:49 +05'30'

DEVIKA SATHYANARAYANA

COMPANY SECRETARY AND COMPLIANCE OFFICER

Encl.: as above

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Details as required in accordance with the SEBI (Lis�ng Obliga�ons and Disclosure Requirements) Regula�ons, 2015 read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11[th] November 2024, as amended:

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Sr. No. Par�culars Details
a) Brief details of op�ons granted 6,09,400 stock op�ons granted to the eligible
employees of the Company and its subsidiaries.
Each op�on upon exercise would be en�tled the
op�on holder for one equity share of Re. 1/- each of
the Company
b) Whether the scheme is in terms of SEBI Yes
(SBEB) Regula�ons, 2021 (if applicable)
c) Total number of shares covered by these 6,09,400 equity shares of Re.1/- each (each stock
op�ons op�on is conver�ble into 1 equity share of face
value of Re.1/- each)
d) Pricing formula As per Ar�cle 10.4 of ELGi Equipments Limited
Employees Stock Op�on Plan, 2019 (“Scheme”)
Grant price or exercise price of op�ons would be
market price as on date of grant or such other price
as the Nomina�on and Remunera�on Commi�ee
may decide, but not less than the face value of the
share.
Further, as per Ar�cle 4.25 of the Scheme, “Market
Price” means the latest available closing price on a
recognized stock exchange on which the shares of
the Company are listed on the date immediately
prior to the Relevant Date.
Explana�on - If such shares are listed on more than
one stock exchange, then the closing price on the
stock exchange having higher trading volume shall
be considered as the Market Price.
Further, as per Ar�cle 4.35(i) of the Scheme,
“Relevant Date” means, in the case of Grant, the
date of the mee�ng of the Nomina�on and
Remunera�on Commi�ee on which the Grant is
made.
Basis the above formula, the exercise price was
determined to be Rs. 478.25/- per Stock Op�on.
e) Op�ons vested Not Applicable, since the said disclosure is being
made for grant of Op�ons.
Further, for the stated grant, the Op�ons shall have
a ves�ng period of not more than three years from
the date of Grant and all Op�ons granted shall vest
as per the ves�ng schedule specified in the Grant
Le�er.
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f) Time within which op�on may be exercised Op�ons shall be exercised within three months from
the date of ves�ng.
g) Op�ons exercised
h) Money realized by exercise of op�ons
i) The total number of shares arising as a result
Not Applicable, since the said disclosure is being
of exercise of op�on
made for grant of Op�ons.
j) Op�ons lapsed
k) Varia�on of terms of op�ons
l) Brief details of significant terms The significant terms of the Op�ons granted are as
follow:
1. Total number of Stock Op�ons granted are
6,09,400.
2. Each Stock Op�on is conver�ble into 1 equity
share of face value of Re.1/- each.
3. The Exercise Price of each Op�ons is Rs.
478.25/-.
4. The ves�ng of Stock Op�ons shall be specific
for each Grantee as men�oned in his/her
grant le�er. However, the Maximum Ves�ng
Period shall be 3 years from the date of grant.
5. The ves�ng shall further be subject to specific
ves�ng condi�ons as men�oned in grant le�er
of each Grantee.
6. The Exercise Period shall be 3 months from the
date of ves�ng.
7. In case of cessa�on of employment, the
op�ons shall be treated in the manner as
prescribed in the Scheme.
m) Subsequent changes or cancella�on or Not Applicable, since the said disclosure is being
exercise of such op�ons made for grant of Op�ons.
n) Diluted earnings per share pursuant to issue Not Applicable, since the said disclosure is being
of equity shares on exercise of op�ons made for grant of Op�ons.
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