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23 Apr 2026
BlackBuck Limited has completed the allotment of 99,793 equity shares under its Employee Stock Option Schemes and announced the grant of fresh stock options to eligible employees. The Nomination and Remuneration Committee of the Board of Directors approved these decisions through circular resolution on April 23, 2026.
Share Allotment Details
The company allotted a total of 99,793 equity shares having a face value of Re. 1/- each as fully paid-up shares to identified employees under two ESOP schemes:
Employee Stock Option Plan No. of Equity Shares Allotted BlackBuck Limited Employee Stock Option Scheme 2016 (ESOP 2016) 18,596 BlackBuck Limited Employee Stock Option Scheme 2019 (ESOP 2019) 81,197 Total 99,793
Impact on Share Capital
Following the allotment, the company's financial structure has been updated significantly. The issued, subscribed and paid-up equity share capital increased from Rs. 18,17,96,612/- to Rs. 18,18,96,405/-. The exercise price per share was set at Re. 1/- with no premium charged.
Parameter Details Date of Issue April 23, 2026 Par Value Re. 1/- per equity share Exercise Price Re. 1/- Premium Nil Total Issued Shares After Issue 18,18,96,405 ISIN Number INE0UIZ01018
Fresh Stock Option Grant
In addition to the share allotment, the Committee granted stock options equivalent to 66,667 equity shares under BlackBuck Limited Employee Stock Option Scheme 2019 to eligible employees. These options carry an exercise price of ₹ 1/- per equity share.
The vesting schedule for the new options is structured at 25% over 4 years. Each stock option in ESOP 2019 is convertible into one fully paid up equity share having face value of ₹1 each. The scheme includes provisions for handling stock options in cases of death, permanent incapacity, resignation, termination, retirement, and abandonment.
Regulatory Compliance
The allotment and grant comply with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The company filed the required statements with stock exchanges, with BSE filing completed on January 10, 2025, and NSE filing on January 11, 2025. All equity shares allotted pursuant to the exercise of stock options will rank pari-passu with existing equity shares of the company, with no lock-in restrictions applicable.
BlackBuck Limited has secured a significant victory in its tax dispute with the Income Tax Department, receiving favorable orders that allow the company to claim substantial Employee Stock Option Plan (ESOP) expenses that were previously disallowed. The orders, received on April 21, 2026, mark a positive development for the logistics technology company in its ongoing tax compliance matters.
Favorable Tax Orders Received
The Deputy Commissioner of Income Tax, Bengaluru, passed orders dated April 20, 2026, giving effect to the appellate orders of the Commissioner of Income Tax (Appeals). These orders specifically address the disallowances pertaining to ESOP expenses that had been contested by the company for two assessment years.
Assessment Year ESOP Expenses Allowed Previous Status 2021-22 ₹15,93,74,127/- Previously disallowed under Section 37(1) 2022-23 ₹90,65,37,976/- Previously disallowed under Section 37(1)
Details of the Tax Orders
The orders represent the culmination of an appellate process where BlackBuck successfully challenged the initial disallowances made by the tax authorities. The Commissioner of Income Tax (Appeals) had ruled in favor of the company, and the recent orders from the Deputy Commissioner implement these favorable appellate decisions.
Parameter Details Issuing Authority Deputy Commissioner of Income Tax, Bengaluru Order Date April 20, 2026 Receipt Date April 21, 2026 Nature of Order Implementation of CIT(A) appellate orders Legal Provision Section 37(1) of Income-tax Act, 1961
Financial Impact and Compliance
The company has confirmed that these orders are favorable with no adverse financial impact. The successful resolution of these tax matters strengthens BlackBuck's financial position by validating its treatment of ESOP expenses as legitimate business deductions. The total value of ESOP expenses now allowed across both assessment years amounts to over ₹106 crore.
Regulatory Disclosure Requirements
BlackBuck has fulfilled its disclosure obligations under Regulation 30 of the SEBI Listing Regulations, providing comprehensive details about the tax orders to both the National Stock Exchange and BSE Limited. The company has also made this information available on its website at www.blackbuck.com , ensuring transparency with all stakeholders.
The successful resolution of these tax disputes demonstrates BlackBuck's robust compliance framework and its ability to effectively manage regulatory challenges. The orders validate the company's position on ESOP expense treatment and provide clarity for future tax planning and compliance activities.
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