Vedanta Oil & Gas Approves ESOP 2026 and ESPP 2026, Appoints Pulak Modi as Vice Chairman
Vedanta Oil & Gas approved ESOP 2026 and ESPP 2026, allowing grants up to 5% of paid-up capital. ESOP covers 4.25% (16.62 crore shares) and ESPP 0.75% (2.93 crore shares). Pulak Modi appointed Vice Chairman. Plans to be implemented via ESOS Trust through secondary acquisition.
The introduction of ESOP and ESPP plans, covering up to 5% of the company's share capital, can impact share dilution and employee motivation. The appointment of a Vice Chairman is a significant governance change.
The approval of Employee Stock Option and Purchase Plans, along with the appointment of a Vice Chairman, indicates positive steps towards employee engagement and corporate governance.
Vedanta Oil and Gas Limited (VOGL) announced the formulation, adoption, and implementation of the Vedanta Oil and Gas Limited – Employee Stock Option Plan 2026 (VOGL ESOP 2026) and the Vedanta Oil and Gas Limited – Employee Stock Purchase Plan 2026 (VOGL ESPP 2026). These plans, approved by the Board of Directors on July 29, 2026, upon the recommendation of the Nomination & Remuneration Committee, are designed to grant options to eligible employees of the company and its subsidiaries. The total number of shares covered by these plans shall not exceed 5% of the company's total paid-up share capital, distributed across one or more tranches. Specifically, the VOGL ESOP 2026 can grant up to 16,62,04,184 shares (4.25% of paid-up capital), while the VOGL ESPP 2026 can offer up to 2,93,30,150 shares (0.75% of paid-up capital). The plans will be implemented through the Vedanta Oil and Gas Limited ESOS Trust via secondary acquisition from the open market, adhering to SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The exercise price for ESOP 2026 is proposed at the face value of ₹1 per share, or as otherwise approved by law. For ESPP 2026, the purchase price per share is proposed as Nil or as determined by the NRC. Options under ESOP 2026 can be exercised within 08 months from the date of each vesting, with vesting periods ranging from 1 to 5 years from the grant date, contingent on performance parameters. Shares acquired under ESPP 2026 will have a 1-year lock-in period from the date of transfer. The Board also designated Mr. Pulak Modi, Non-Executive Director, as the Vice Chairman of the Board. The Board meeting commenced at 03:00 p.m. IST and concluded at 03:38 p.m. IST on July 29, 2026.
The disclosure details required under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements) Regulations, 2015, are enclosed as Annexure A. The plans are subject to the approval of the company's members.
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