Nuvama Wealth Management to seek member approval for ESOPs and revise MD & CEO, ED remuneration
Nuvama Wealth Management is conducting a postal ballot for members to approve the "Nuvama Wealth Management Limited Employee Stock Appreciation Rights Scheme 2026" and revise remuneration for MD & CEO Ashish Kehair (salary up to ₹5.50 crore) and ED Shiv Sehgal (salary up to ₹4 crore). E-voting is open from July 3 to August 1, 2026.
The proposed ESAR scheme and remuneration revisions are significant for employee retention and executive compensation, impacting future potential dilution and operational costs. These decisions require shareholder approval and are material to the company's governance and human capital strategy.
The announcement details routine corporate actions such as seeking member approval for ESOP schemes and revising executive remuneration. While these are important for governance and employee motivation, they do not inherently indicate a positive or negative shift in the company's immediate financial performance or market position.
Nuvama Wealth Management Limited has announced a postal ballot process to seek approval from its members for several key proposals. The company is seeking approval for the formulation and implementation of the "Nuvama Wealth Management Limited Employee Stock Appreciation Rights Scheme 2026" (ESAR 2026), allowing for the grant of up to 1,37,00,000 Employee Stock Appreciation Rights (ESARs) to eligible employees of the company, its subsidiaries, and associate companies.
Additionally, the company proposes to revise the remuneration terms for its Managing Director and Chief Executive Officer, Mr. Ashish Kehair, and Executive Director, Mr. Shiv Sehgal. For Mr. Kehair, the annual salary will not exceed ₹5.50 crores, with a performance bonus up to three times the salary. For Mr. Sehgal, the annual salary will not exceed ₹4 crores, also with a performance bonus up to three times the salary. Equity-based instruments granted to them will not be considered part of their perquisites or overall remuneration.
The postal ballot will be conducted solely through remote e-voting, commencing on Friday, July 3, 2026, at 9:00 a.m. (IST) and concluding on Saturday, August 1, 2026, at 5:00 p.m. (IST). The notice regarding the postal ballot was dispatched on Wednesday, July 1, 2026, to members whose email addresses were registered as of the cut-off date, Thursday, June 25, 2026.
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Nuvama Wealth Management Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Nuvama Wealth Management Limited. Read the original for the full detail.