Sri Lotus Developers and Realty Limited has informed the Exchange regarding Notice of Postal Ballot
LOTUSDEV · price
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Sri Lotus Developers and Realty has issued a Postal Ballot Notice seeking shareholder approval to extend the benefits of its existing Employee Stock Option Scheme 2024 (ESOP 2024) to eligible employees of its subsidiary(ies) and associate company(ies), including future ones. The scheme allows up to 89,00,000 (89 lakh) stock options convertible into equity shares of ₹1 face value, in addition to options already earmarked for the company's own employees. E-voting runs from February 26, 2026 to March 27, 2026, with February 20, 2026 as the cut-off date for eligibility. The Board approved this on February 9, 2026, and CDSL has been appointed as the e-voting agency, with CS Mannish L. Ghia as the scrutinizer. Results will be announced within two working days after the e-voting ends.
If approved, this will allow the company to grant stock options to employees across its group companies, potentially leading to minor equity dilution over time as options are exercised. This is a routine corporate action aimed at talent retention across subsidiaries and is unlikely to materially impact share price in the short term.