Enclosed herewith the intimation for grant of ESOPs
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Epuja Spiritech Ltd (formerly Sagar Productions Limited) has granted 2,37,00,000 (2.37 crore) stock options to eligible employees under its 'ESOP 2025' scheme. Each option is convertible into one equity share of Re. 1 face value, at an exercise price of just Re. 1 per share — essentially the face value. The options will start vesting after one year from the grant date and can be exercised within 7 years of vesting. The grant was approved by the Nomination and Remuneration Committee via a circular resolution dated December 9, 2025, and the scheme is framed under SEBI's Share Based Employee Benefits and Sweat Equity Regulations, 2021.
The grant of 2.37 crore options at face value pricing represents significant potential dilution for existing shareholders if all options are eventually exercised. While it can help attract and retain talent, shareholders should monitor how this affects future earnings per share and ownership structure.