The Board of Directors of Texmaco Rail & Engineering Limited approved the formulation of the “Texmaco Long Term Incentive Plan (LTIP) Scheme” on March 31, 2026. This scheme authorizes the grant of up to 24,00,000 Equity Shares (face value Re. 1 each) to Key Executives. The plan is subject to shareholder approval and adheres to the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The exercise price is set at the face value of Rs. 1 per share.
Approval of New Long Term Incentive Plan
In a meeting held on March 31, 2026, the Board of Directors of Texmaco Rail & Engineering Limited formally approved the creation and proposal of the “Texmaco Long Term Incentive Plan (LTIP) Scheme”. This significant corporate action aims to incentivize key executive talent within the organization.
Scheme Details and Share Allocation
The primary objective of the LTIP is to offer, grant, issue, and allot options exercisable into a maximum of 24,00,000 Equity Shares of the Company, each having a face value of Rs. 1/-, fully paid-up.
The formulation and granting authority rests with the Board, including the Nomination and Remuneration Committee (NRC), who may issue the options in one or more tranches. Crucially, the plan will become effective only after obtaining necessary shareholder approvals and other statutory clearances.
Key Terms of the LTIP Scheme
- Compliance: The scheme is designed to be fully compliant with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
- Pricing: The Exercise Price per option is fixed at the face value of the Company’s shares, amounting to Rs. 1 (One) per share.
- Vesting and Exercise Period: Options are slated to vest 3 years from the date of grant. Following vesting, the option holder will have a window of 2 years from the vesting date to exercise the options.
- Status: At this initial stage, details regarding options vested, money realized, options exercised, or options lapsed are Not Applicable.
The Board Meeting officially commenced at 12:05 P.M. and concluded at 13:15 P.M. on the date of the announcement.
Source: BSE
