Corporate Filing
Max Estates Allots 632 Equity Shares Under 2023 ESOP Plan
Max Estates Limited approved the allotment of 632 equity shares under its Employee Stock Option Plan 2023 on 31 October 2026. The shares were issued on exercise of stock options and add INR 6,320 to paid-up equity capital.
| Shares allotted | 632 equity shares |
|---|---|
| Date and time of allotment | 31 October 2026, 14:50 hrs IST |
| Approving body | Nomination and Remuneration Committee |
| Face value per share | INR 10 |
| Paid-up capital before allotment | INR 1,63,57,98,660 |
| Paid-up capital after allotment | INR 1,63,58,04,980 |
| Total equity shares after allotment | 16,35,80,498 |
| Registrar and share transfer agent | MAS Services Limited |
What happened
Max Estates Limited, a listed real estate and property development company with corporate offices in Noida and a registered office in New Delhi, allotted 632 equity shares under its Employee Stock Option Plan 2023 on 31 October 2026. The Nomination and Remuneration Committee took the decision that day, and the allotment was recorded at 14:50 hrs IST.
The shares were issued following the exercise of stock options granted under the company's ESOP Plan 2023. The company uses employee stock option plans as part of its compensation and retention strategy for key staff.
Change in share capital
Paid-up equity share capital rose from INR 1,63,57,98,660 to INR 1,63,58,04,980, an increase of INR 6,320 (632 shares at INR 10 each). After the allotment, the company has a total of 16,35,80,498 equity shares, each with a face value of INR 10.
Effect on existing shareholders
632 shares are about 0.00004% of the 16,35,80,498 shares outstanding after the allotment. The effect on existing shareholders is therefore very small. The allotment does not involve any project, land purchase or sales offering, so it has no direct bearing on home buyers.
Other ESOP activity in 2026
- 2 January 2026: approval of 57,595 shares under the 2023 ESOP plan, which marginally increased paid-up capital from INR 162.23 crore to INR 162.29 crore.
- 2 April 2026: 4,869 shares allotted under the plan, raising paid-up capital from INR 1,63,44,54,830 to INR 1,63,45,03,520.
- 12 May 2026: 37,274 shares allotted, raising paid-up capital from INR 1,63,45,03,520 to INR 1,63,48,76,260.
- 11 August 2026: 51,525 shares sanctioned by the Nomination and Remuneration Committee, taking paid-up capital to INR 1,63,56,49,350.
On 18 August 2026 the committee also approved a grant of 50,226 stock options under the same plan, at an exercise price of Rs 221 per option, with vesting over four years from 18 August 2027.
Company context
Max Estates reported pre-sales of Rs 5,305 crore for FY26, the second consecutive year above Rs 5,000 crore. Its Q4 FY26 pre-sales were Rs 3,392 crore, driven by the launches of Estate 105, which sold Rs 1,783 crore in 10 days, and Estate 361, which reached Rs 1,704 crore.
What comes next
No further allotment date for the 632 shares has been announced. Further allotments under the ESOP Plan 2023 are likely as options granted under the plan are exercised, and each will be disclosed through a separate exchange filing with its own share capital figures.
Frequently asked questions
How many shares did Max Estates allot on 31 October 2026?
Max Estates allotted 632 equity shares under its Employee Stock Option Plan 2023 on 31 October 2026.
Why were the shares issued?
The shares were issued following the exercise of stock options granted under the company's ESOP Plan 2023, which the company uses as part of its employee compensation and retention strategy.
How much did paid-up capital increase?
Paid-up equity share capital rose by INR 6,320, from INR 1,63,57,98,660 to INR 1,63,58,04,980.
Does this allotment affect home buyers?
The allotment is a share capital event only. It does not involve any project, land deal or sales offering, so it does not change any buyer's booking or possession terms.
How many equity shares does Max Estates have now?
After the allotment, Max Estates has a total of 16,35,80,498 equity shares, each with a face value of INR 10.