Max India Limited — Capital/Financing Update 2024

Jun 1, 2024

==> picture [144 x 51] intentionally omitted <==

==> picture [6 x 10] intentionally omitted <==

==> picture [7 x 10] intentionally omitted <==

June 01, 2024

Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex, Dalal Street Bandra (East) Mumbai – 400 001 Mumbai – 400051 Scrip Code: 543223 Name of Scrip: MAXIND

Dear Sir/Madam,

Sub: Grant of Stock Options under “Max India Limited – Employee Stock Option Plan – 2020”

Pursuant to Regulations 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Nomination and Remuneration Committee of the Company on June 01, 2024, has approved the grant of Stock Options under MAX INDIA LIMITED – EMPLOYEE STOCK OPTION PLAN – 2020 as detailed in Annexure – A.

You are requested to take the above on record.

Thanking you,

Yours faithfully, For Max India Limited

Digitally signed by PANKAJ CHAWLA DN: c=IN, o=Personal, PANKAJ postalCode=110018, st=Delhi, serialNumber=08D508536019FACCBB5 C8CD933F9F092A6830DB99444E3AEE0 2AFFEE22EB4FC7, cn=PANKAJ CHAWLA CHAWLA Date: 2024.06.01 16:20:43 +05'30' Pankaj Chawla Company Secretary and Compliance Officer

Encl: as above

==> picture [451 x 39] intentionally omitted <==

==> picture [144 x 51] intentionally omitted <==

==> picture [6 x 10] intentionally omitted <==

==> picture [7 x 10] intentionally omitted <==

Annexure – A

	Annexure – A
Brief details of options granted	Grant of 59,228 Options under MAX INDIA LIMITED – EMPLOYEE STOCK OPTION PLAN - 2020
Whether the scheme is in terms of SEBI (Share Based Employee Benefits and Seat Equity) Regulations, 2021	Yes
Total number of shares covered by these options	59,228 equity shares (Option Holder would entitle to receive one equity share of face value INR 10/- each on exercise of every one option)
Pricing formula/Exercise Price/Grant Price	Exercise Price is the market price of shares of the Company on the date of grant i.e., Rs. 270.50/- per Option (I.e. Average of the Opening and Closing market price of Max India’s shares on May 31, 2024 i.e. last trading price)
Vesting Schedule	4 years vesting: 10% in Year 1 – June 1, 2025 20% in Year 2 – June 1, 2026 30% in Year 3 – June 1, 2027 40% in Year 4 – June 1, 2028
Exercise Period	The exercise period shall be 5 years from the respective Vesting Dates
Brief details of significant terms	Stock options granted are governed as per MAX INDIA LIMITED – EMPLOYEE STOCK OPTION PLAN – 2020, which is administered and implemented by the Nomination and Remuneration Committee of the Company in terms of extant regulations.

==> picture [451 x 39] intentionally omitted <==