Aadhar Housing Finance approves new ESOP, adjusts senior management

Aadhar Housing Finance Limited’s board of directors met on October 10, 2025, to approve a new employee stock option plan (ESOP) for 2025. This new plan will replace the existing ESOP Plan 2020, ceasing further grants under the old scheme and transferring ungranted or unvested options to the new plan, all subject to shareholder approval via a postal ballot. The ESOP Plan 2025 aims to incentivize employees by authorizing the grant of up to 31,122,170 equity shares, each with a face value of INR 10.

The exercise price for grants made within 30 days of in-principle approval from a recognized stock exchange will be INR 425 per option. For grants made after this 30-day period, the price will be determined by the nomination and remuneration committee at the time of grant, with a maximum discount of 20% off the market price on the grant date. The options are subject to time and/or performance conditions for vesting.

In a separate development, Noel Mascarenhas, head of marketing and product, ceased to be classified as senior management personnel (SMP) effective October 10, 2025, due to changes in the company's internal reporting structure. He will continue his employment with Aadhar Housing Finance Limited under the new structure.