Zen Technologies Transfers 2,500 Equity Shares to Employees Under ESOP-2021 Scheme

Zen Technologies Limited transferred 2,500 equity shares of face value ₹1/- each to eligible employees on May 11, 2026, pursuant to the exercise of options granted under the Zen Technologies Limited Employee Stock Option Plan-2021 ("the Scheme"). The shares were transferred from the Zen Technologies Limited Employees Welfare Trust, which was established specifically for implementing the scheme, upon completion of the respective vesting periods applicable under the scheme.

The company confirmed that the transferred shares rank pari-passu with the existing equity shares of the company in all respects. Importantly, there is no change in the paid-up share capital of the company subsequent to this transfer, as the shares were held within the Employees Welfare Trust prior to being transferred to the eligible employees.

Key Details of the ESOP Share Transfer

The following table summarises the key parameters of the share transfer as disclosed pursuant to Regulation 10(c) of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021:

Parameter: Details Date of Transfer: May 11, 2026 Number of Shares Transferred: 2,500 Face Value per Share: ₹1/- Kind of Security: Equity shares Scheme Name: Zen Technologies Limited Employee Stock Option Plan-2021 Scheme Filing Date: January 21, 2022 Total Issued Shares After Transfer: 9,02,90,356 Lock-in on Shares: Nil Shares Identical to Existing Shares: Yes

Exercise Price Breakdown

The 2,500 options exercised comprised two tranches with different exercise prices, as detailed below:

No. of Options Exercised: Exercise Price per Share: Premium per Share: 750 ₹100/- ₹99/- 1,750 ₹500/- ₹499/-

Regulatory Compliance

The disclosure was made in accordance with Regulation 10 of the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The company's registered office is located at B-42, Industrial Estate, Sanathnagar, Hyderabad – 500018, Telangana, India. The equity shares of Zen Technologies are listed on both BSE Limited and the National Stock Exchange of India Limited. The transfer was communicated to the listing departments of both exchanges by Sourav Dhar, Company Secretary and Compliance Officer.

Zen Technologies Limited has disclosed the utilization of proceeds from its Qualified Institutional Placement (QIP) for the quarter ended March 31, 2026. The company submitted the Monitoring Agency Report to the National Stock Exchange of India and BSE Limited, confirming compliance with the regulatory requirements regarding the deployment of funds.

Issue Overview

The QIP was conducted between Wednesday, August 21, 2024, and Friday, August 23, 2024. The issue comprised equity shares with a gross proceeds size of Rs. 1,00,000.00 lakhs. Following the issue, the revised net proceeds stood at Rs. 97,950.77 lakhs, which are being monitored by CRISIL Ratings Limited. The funds were raised to support the company's operations in the aerospace and defence sector.

Utilization of Proceeds

The monitoring agency verified that the proceeds have been utilized strictly according to the disclosures made in the offer document. The primary objects of the issue included funding working capital requirements, inorganic growth through acquisitions, and general corporate purposes.

The following table details the allocation and utilization of the net proceeds as of March 31, 2026:

Sr. No. Item Head Amount Proposed (Rs in lakhs) Amount Utilized (Rs in lakhs) Total Unutilized Amount (Rs in lakhs) 1 Funding working capital requirements 41,000.00 41,000.00 Nil 2 Funding inorganic growth 35,000.00 17,141.99 17,858.01 3 General corporate purposes 21,950.77 12,234.02 9,716.75 Total Net Proceeds 97,950.77 70,376.01 27,574.76

The report notes that the full amount allocated for working capital has been utilized, primarily for the purchase of raw materials. Funds for inorganic growth remain partially unutilized as the company evaluates strategic initiatives. General corporate purposes were utilized for capital expenditure, logistics, and strategic initiatives during the quarter.

Deployment of Unutilized Funds

As of the reporting date, the unutilized proceeds totaling Rs. 27,574.76 lakhs have been invested in fixed deposits with major banks, including ICICI Bank, Indian Bank, and Axis Bank. These investments are earning interest rates ranging from 6.15% to 6.37%, with maturity dates in August and September 2026. Additionally, a sum of Rs. 74.76 lakhs is maintained in the ICICI Monitoring Account.

Monitoring Agency Declaration

CRISIL Ratings Limited confirmed that there were no deviations from the objects of the issue and no material changes in the means of finance. The agency stated that the utilization of proceeds is consistent with the information provided by the issuer and the offer document. The Board of Directors of Zen Technologies has approved the utilization of general corporate purpose funds towards specific item heads such as capital expenditure and logistics.

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