Nuvama Wealth Management Limited has announced the approval of 79,38,556 Employee Stock Appreciation Rights (ESARs) for its eligible employees. This grant is made under the ‘Nuvama Wealth Management Limited Employee Stock Appreciation Rights Scheme 2026’. The ESARs, representing appreciation-linked rights, will be settled in equity shares of the company, subject to vesting and exercise conditions.
Nuvama Wealth Management Grants ESARs
Nuvama Wealth Management Limited has officially announced the approval of a substantial grant of 79,38,556 Employee Stock Appreciation Rights (ESARs). This significant award is designated for eligible employees under the newly established ‘Nuvama Wealth Management Limited Employee Stock Appreciation Rights Scheme 2026’, also referred to as ‘the Plan’. The approval was granted by the Nomination and Remuneration Committee (NRC) of the company on September 1, 2026.
Scheme Details and Structure
The total number of equity shares that could potentially be issued upon the exercise of these ESARs is not strictly one-to-one, as ESARs represent rights linked to stock appreciation. Settlement will occur based on the appreciation component exceeding the ESAR Price. The ESAR Price is set equal to the Market Price of the company’s shares, determined by the NRC as of the grant date.
Vesting Schedule for ESARs
A significant portion of the granted ESARs, totaling 73,93,366, will vest on a graded basis. These will be distributed over five annual tranches starting from the grant date. The remaining 5,45,190 ESARs will vest in equal annual tranches over a period of four years from the grant date.
Exercise Period
Employees will have a window of 2 years from the date of vesting to exercise their ESARs.
Significant Terms
The Plan is administered by the Nomination and Remuneration Committee. Once vested and exercised, ESAR holders are entitled to receive appreciation for a specified number of equity shares. This appreciation will be settled in the form of the company’s equity shares upon payment of the exercise price and applicable taxes, in accordance with the Plan’s terms and conditions.
Source: BSE
