Vardhman Special Steels ESOP allotment comprised 77,250 equity shares issued to eligible employees on October 5, 2026, according to the company's BSE filing. The Committee of Directors (ESOP Plan) allotted the shares at its meeting that day after employees exercised stock options under the company's 2016 and 2020 employee stock option plans.

The allotment includes 26,750 bonus shares issued against 26,750 ESOP shares in a 1:1 ratio. These bonus shares form part of the disclosed total of 77,250 equity shares. Each equity share carries a face value of Rs 10.

The disclosure concerns shares allotted following the exercise of employee stock options. It identifies both employee stock option plans as the basis for the allotment, without providing a separate allocation figure for each plan.

Allotment terms and employee eligibility

The company identified the recipients as eligible employees who had exercised their stock options. The filing sets out the following terms:

  • The allotment falls under the Vardhman Special Steels Limited Employee Stock Option Plan, 2016, and the Vardhman Special Steels Limited Employee Stock Option Plan, 2020.
  • All allotted equity shares have a face value of Rs 10 each.
  • The bonus component comprises one bonus share for each of the specified 26,750 ESOP shares.
  • The allotted shares will rank pari passu with existing equity shares in all respects.

For shareholders tracking the company's equity issuances, the pari passu provision means the newly allotted shares will carry the same standing as its existing equity shares. The Rs 10 figure disclosed in the filing is the face value; the communication does not specify an option exercise price.

Committee meeting and exchange disclosure

The Committee of Directors (ESOP Plan) meeting began at 10:30 a.m. and concluded at 11:00 a.m. on October 5, 2026. The company communicated the allotment in a letter dated the same day, addressed to BSE and the National Stock Exchange of India.

Company Secretary Sonam Dhingra signed the communication. The Ludhiana-based company is identified in the filing by BSE scrip code 534392 and NSE symbol VSSL.