Thermax Limited has informed the Exchange about Options to purchase securities
THERMAX · price
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Thermax has issued a corrigendum to its earlier May 8, 2025 filing about the grant of stock options to eligible employees under the Thermax Employees Stock Option Plan 2021. A typographical error in the number of options granted has been corrected from 14,432 to 14,158 stock options. Each option is convertible into one equity share of face value Rs. 2, at an exercise price of Rs. 15.25 per option. The options will vest in three tranches — 33% at the end of year 1, 33% at the end of year 2, and 34% at the end of year 3 — with a five-year exercise window from each vesting date and no lock-in period. The rest of the original disclosure remains unchanged.
This is a routine correction of a clerical error in an existing ESOP grant disclosure and does not change the economic substance of the earlier announcement. Shareholders should note a small potential dilution of 14,158 equity shares over time if the options are exercised, which is immaterial relative to Thermax's overall share base.