Shree Refrigerations Ltd Approves Employee Stock Option Scheme and Regularizes Director Position
Shree Refrigerations Limited announced significant decisions following its Board of Directors meeting held on July 18, 2026. The company approved a new employee stock option scheme and regularized the position of Ms. Rucha Ravalnath Shende as a Whole Time Director.The board's decision included the introduction and adoption of the Shree Refrigerations Limited Employees Stock Option Scheme 2026 (ESOP 2026), based on the recommendation of the Nomination and Remuneration Committee. The scheme proposed granting up to 1,00,000 stock options, corresponding to a maximum of 10,00,000 equity shares or 2.79% of the company's equity share capital. The adoption of ESOP 2026 is subject to approval by shareholders at the ensuing Annual General Meeting (AGM).
The key terms and details of the Employee Stock Option Scheme 2026 are summarized below:
| Particular | Details |
|---|---|
| Maximum Number of Options Proposed | 10,00,000 |
| Total Shares Covered | 10,00,000 equity shares (Face Value Rs. 2/-) |
| Exercise Price Formula | Must not be less than the face value or more than the fair market value on the Date of Grant |
| Minimum Vesting Period | One year |
| Options Exercise Timeline | Within 30 days from the date of vesting at a pre-determined exercise price |
Regularization of Whole Time Director
The Board also approved the regularization of Ms. Rucha Ravalnath Shende, changing her status from Additional Director to Whole Time Director for a period of three years. Her appointment is effective from February 23, 2026, and extends until February 22, 2029, subject to shareholder approval at the upcoming general meeting.Ms. Ravalnath Shende's details and relationships within the company are provided in the table below:
| Particular | Details |
|---|---|
| Effective Date of Appointment | February 23, 2026 |
| Term of Appointment | Three years (February 23, 2026, to February 22, 2029) |
| Relationship with Board Members | Shende is the daughter of Mr. Ravalnath Gopinath Shende (Managing Director) and Ms. Rajashri Ravalnath Shende (Whole Time Director). Ms. Devashree Vishwesh Nampurkar, a Whole Time Director, is her sister. |
Profile of Ms. Rucha Ravalnath Shende
Ms. Rucha Ravalnath Shende holds a background as a Mechanical Engineer with extensive experience in HVAC, Plumbing, and Fire Protection design. Since 2019, she has gained expertise in project execution and design integration across institutional, healthcare, laboratory, and public sector projects, utilizing tools such as REVIT and AutoCAD. Her professional history includes associations with T & M Associates, USA, Bloomfield, Jarmel Kizel Architects & Engineers, Shenoy Engineers, and DogSpot Inc.Stock Price Movement
Shree Refrigerations Ltd. shares settled at ₹343.20 on Friday, closing down 0.94% after the post-market trading session. The stock tested a low of ₹335.00 but managed to finish after reaching an intraday high of ₹346.45.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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