CARE Ratings Allots 300 Equity Shares Under ESOP, Grants 18,000 Fresh Stock Options

The Nomination and Remuneration Committee (NRC) of CARE Ratings Limited approved the allotment of 300 equity shares of face value Rs. 10/- each, fully paid up, to employees of the company pursuant to the exercise of their options under CARE Employee Stock Option Scheme 2020. The meeting of the NRC was held on May 04, 2026, commencing at 2:30 PM and concluding at 5:30 PM.

Impact on Paid-Up Share Capital

The allotment of 300 equity shares has resulted in an increase in the company's paid-up share capital. The following table summarises the change:

Metric: Before Allotment After Allotment Paid-up Share Capital: Rs. 30,04,88,630/- Rs. 30,04,91,630/- Number of Equity Shares: 3,00,48,863 3,00,49,163 Face Value per Share: Rs. 10/- Rs. 10/-

Grant of Fresh Stock Options

In addition to the share allotment, the NRC also approved the grant of 18,000 stock options to eligible employees under the CARE Employee Stock Option Scheme 2020. The scheme is in compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The key terms and conditions of the options granted are detailed below:

Parameter: Details No. of Stock Options Granted: 18,000 (Eighteen Thousand) Equity Shares Covered: 18,000 equity shares of face value Rs. 10/- each Exercise Price: Rs. 1,590/- SEBI Regulation Compliance: Yes — SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 Exercise Period: 2 years from the date of vesting of options

Vesting Schedule

The 18,000 stock options will vest in equal tranches over a period of three years from the date of grant, as outlined below:

1/3rd of options vest on completion of one year from the date of grant

1/3rd of options vest on completion of the second year from the date of grant

1/3rd of options vest on completion of the third year from the date of grant

The information pertaining to the allotment and the grant of stock options has been made available on the company's website at www.careedge.in . The disclosure was made by Manoj Kumar CV, Company Secretary & Compliance Officer of CARE Ratings Limited.

CARE Ratings Limited, in collaboration with the National Stock Exchange of India Limited (NSE), has announced the commercial launch of Past Risk and Return Verification Agency (PaRRVA), a first-of-its-kind global initiative conceptualised by SEBI. The platform is now live and accessible at www.careparrva.com , following the successful completion of a pilot project that was launched by SEBI Chairman Shri Tuhin Kanta Pandey in December 2025.

SEBI Authorization and Launch Timeline

The commercial launch follows formal authorization from SEBI through its circular dated April 29, 2026, with the service commencement effective from May 4, 2026. CARE Ratings had initially received final recognition from SEBI under the circular dated April 4, 2025, which was communicated to exchanges on December 5, 2025. The company has now successfully completed the mandatory pilot phase, enabling full commercial operations.

Parameter Details Service Launch Date May 4, 2026 SEBI Authorization Circular April 29, 2026 Initial Recognition Date December 5, 2025 Original SEBI Circular April 4, 2025 Pilot Project Launch December 2025

PaRRVA Framework and Capabilities

PaRRVA is designed to bring transparency and standardisation to performance claims made by financial intermediaries. The framework validates risk-return metrics for Investment Advisors, Research Analysts, and Trading Members, ensuring greater credibility, compliance, and investor trust. Intermediaries can submit recommendations through secure API-based integration or file uploads, following which PaRRVA conducts comprehensive validation and generates risk and return metrics.

Close to 50 different risk and return matrices are computed from transaction data directly sourced from stock exchanges and clearing corporations. These metrics are disseminated to investors via the PaRRVA platform, with options to view reports by scanning QR codes or accessing the official PaRRVA portal.

NSE Collaboration and Data Centre Role

NSE plays a pivotal role as the PaRRVA Data Centre (PDC), providing authenticated market data for robust risk and return verification. In accordance with SEBI's circular dated April 4, 2025, NSE has formally consented to act as the PDC for CARE Ratings Limited in its role as PaRRVA. This collaboration enhances transparency and reliability in risk and return verification processes, enabling Investment Advisers, Research Analysts, and Algo providers to present accurate, standardised reports.

Leadership Statements

Ashish Chauhan, MD & CEO, NSE, stated that PaRRVA reaffirms SEBI's commitment to keeping India's securities markets fair, transparent, orderly, and resilient. He emphasized that NSE is pleased to support this initiative by providing the PaRRVA Data Centre, enabling the framework to leverage authenticated market data.

Mehul Pandya, MD and Group CEO, CareEdge, highlighted that PaRRVA represents a significant advancement in enhancing trust, discipline, and transparency across the financial advisory ecosystem. He noted that the independent validation framework is designed to deliver accurate, standardised, and unbiased disclosures, strengthening market integrity and equipping investors with reliable data.

Platform Features and Compliance

PaRRVA strengthens compliance by preventing selective returns presentation, avoiding client-specific claims, and ensuring that every metric is backed by required disclosures. The platform's secure data architecture, along with T+1 portfolio validation and end-of-day checks for intraday strategies, helps maintain both accuracy and speed.

The notification was signed by Manoj Kumar CV, Company Secretary and Compliance Officer, and submitted to both BSE Limited and The National Stock Exchange of India Limited as part of the company's disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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