Vedant Fashions Approves Internal Auditor Re-appointment and Stock Option Grant
Vedant Fashions Limited has announced key outcomes from its Board of Directors meeting, approving the re-appointment of an internal auditor and granting a substantial number of stock options to eligible employees. The company's share capital structure was also updated following the allotment of new equity shares against exercised options.The Board meeting reviewed several matters, including the appointment of M/s Grant Thornton Bharat LLP as the Internal Auditor (External) for the Financial Year 2026-27. Additionally, the board approved the grant of stock options under the VFL Employee Stock Option Scheme 2018, known as 'Scheme Pratham'.
The Nomination & Remuneration Committee (NRC) further approved the allotment of 1,000 equity shares to eligible employees upon the exercise of these options. The company confirmed that all issued and subscribed share capital ranks pari-passu with existing equity shares in all aspects.
Internal Auditor Re-appointment Details
The following details relate to the re-appointment of M/s Grant Thornton Bharat LLP as the Company's Internal Auditor:| Particulars | Details |
|---|---|
| Reason for change | Reappointment of M/s Grant Thornton Bharat LLP as Internal Auditor. |
| Date and Term of Appointment | The term is for the Financial Year 2026-27. |
| Auditor's Profile | M/s Grant Thornton Bharat LLP, a member of Grant Thornton International Ltd, is an Indian firm with global connections, providing diverse services including assurance, consulting, tax, risk, and digital transformation. |
Stock Option Grant and Capital Structure Update
The company granted 24,237 stock options under the VFL Employee Stock Option Scheme 2018, which was reviewed by the Nomination and Remuneration Committee. These options are governed by the VFL Employee Stock Option Plan 2018.Key details regarding the stock options include:
| Particulars | Details |
|---|---|
| Options Granted | 24,237 Stock Options under 'Scheme Pratham'. |
| Exercise Price | ₹ 412.60/- per stock option. |
| Vesting Schedule | A minimum vesting period of one year is stipulated. The options are divided into 'Time Options' and 'Performance Options'. Time Options vest as follows: 33% on the second anniversary, 33% on the third anniversary, and the balance 34% on the fourth anniversary, subject to continued employment. |
| Eligibility & Scope | The Scheme applies to employees of the Company and its Subsidiary Companies and Holding Company. The maximum number of Options Granted to any Grantee shall not exceed one percent of the fully diluted total share capital at the time of the Grant. |
The allotment of 1,000 equity shares through the exercise of options resulted in an increase in the company's paid-up share capital. Issued, subscribed and paid-up share capital increased to ₹ 24,29,78,245/-, comprising 24,29,78,245 equity shares of ₹ 1/- each, up from the previous figure of ₹ 24,29,77,245/- divided into 24,29,77,245 equity shares of ₹ 1/- each.
MANYAVAR Stock Price Movement
On Thursday, shares of Vedant Fashions Limited edged higher, closing at ₹412.60 after gaining 0.45% in the session. The stock traded within a tight band throughout the day, peaking at ₹415.65 but managing to settle above its opening price of ₹411.40.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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