TCI Express Limited’s Board of Directors has approved the grant of 46,200 stock options to eligible employees at ₹250 per option under the Employees Stock Option Plan-2016 (ESOP 2016), marking the 10th tranche of grants under the scheme.
The decision was made during a Board meeting held on 27 May 2026. The vesting, exercise and other terms of the stock option grant shall be governed in accordance with the provisions of ESOP 2016, which was formulated pursuant to the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
In addition to the stock option approval, the Board recommended several other corporate actions for shareholder approval at the ensuing 18th Annual General Meeting. These include the re-appointment of Chander Agarwal as Managing Director for a further term of five consecutive years with effect from 17 August 2026, subject to Central Government approval and other applicable statutory and regulatory approvals. The Board also recommended the re-appointment of Vineet Agarwal as Director liable to retire by rotation under Section 152 of the Companies Act, 2013.
The Board further appointed Pavan Kumar Munjuluri and Vikram Mehta as Additional Directors in the category of Non-Executive Independent Directors for a term of five consecutive years with effect from 27 May 2026.
In a separate senior management personnel development, the Board appointed Soumya Ranjan Rout as Senior Management Personnel in the capacity of IT-Head. The company also approved and adopted a revised Nomination and Remuneration Policy, strengthening the framework for succession planning of Directors, Key Managerial Personnel and Senior Management Personnel.
The Board further approved the constitution of an Executive Committee for efficient operational management and expeditious decision-making relating to business and administrative matters of the company. Additionally, the Board approved matters relating to the proposed 18th AGM, with details regarding the AGM date, remote e-voting facility and other related information to be communicated to shareholders and stock exchanges in due course.
The Board meeting commenced at 1:00 P.M. (IST) and concluded at 4:55 P.M. (IST).
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).