Sutlej Textiles and Industries Limited has informed the Exchange regarding Notice of Postal Ballot
SUTLEJTEX · price
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Sutlej Textiles and Industries Limited is seeking shareholder approval through a Postal Ballot for a new Employee Stock Option Plan called 'ESOP 2026'. The company proposes to create a pool of 33,43,380 stock options, representing about 2% of its fully diluted share capital, to be granted to eligible employees. Each option can be converted into one equity share of Re. 1 face value at the market price on the grant date, with a minimum vesting of 1 year and maximum vesting of 4 years. Promoters, promoter group members, independent directors, and anyone holding more than 10% of the company's shares are excluded from the scheme. Remote e-voting runs from 21st March 2026 (9:00 AM) to 19th April 2026 (5:00 PM), and the results will be announced by 21st April 2026. The resolution needs to be passed as a Special Resolution, which requires at least 75% of votes cast in favour.
If approved, this scheme will dilute existing shareholders by up to roughly 2% on a fully diluted basis, as new shares will be issued directly by the company upon option exercise. For retail investors, the short-term impact on share price is likely limited, but it signals the company's intent to retain and incentivise key employees by giving them a stake in future share price appreciation.