Stock (Tables)
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12 Months Ended |
Mar. 31, 2026 |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The fair value of employee stock option schemes has been estimated on the dates of each grant using a binomial option pricing model with the following assumptions:
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Fiscal years ended March 31, |
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| Dividend yield |
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0.67%-0.71% |
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0.73%-1.03% |
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0.75%-1.09% |
| Expected volatility |
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21.91%-27.42% |
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23.30%-27.70% |
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| Risk-free interest rate |
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7.21%-7.55% |
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6.75%-7.24% |
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6.20%-6.98% |
| Expected term (in years) |
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4.50-7.25 |
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4.49-7.21 |
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4.74-7.31 |
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| Schedule of Share Based Compensation By Share Based Award Restricted Stock Units Valuation Assumptions |
The fair value of restricted stock units has been estimated on the dates of each grant using a binomial option pricing model with the following assumptions:
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Fiscal years ended March 31, |
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| Dividend yield |
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0.65%-1.17% |
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0.77%-1.20% |
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1.09%-1.35% |
| Expected volatility |
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21.32%-35.35% |
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20.32%-27.55% |
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| Risk-free interest rate |
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6.85%-7.18% |
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6.84%-6.89% |
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5.86%-6.33% |
| Expected term (in years) |
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1.0- 4.0 |
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1.0- 4.0 |
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| Schedule of Share-based Compensation, Stock Options, Activity |
Activity in the options available to be granted under the employee stock option scheme is as follows:
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Number of options available to be granted
fiscal year ending March 31, |
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| Options available to be granted, beginning of period |
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108,428,330 |
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64,983,834 |
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217,643,568 |
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| Equity shares allocated for grant under the plan |
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— |
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190,000,000 |
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— |
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| Options granted |
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(48,769,380 |
) |
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(46,293,320 |
) |
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(39,333,316 |
) |
| Forfeited/lapsed |
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5,324,884 |
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8,953,054 |
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7,576,028 |
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| Options available to be granted, end of period |
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64,983,834 |
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217,643,568 |
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185,886,280 |
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| Activity in the options outstanding under the employee stock option scheme is as follows:
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Fiscal years ended March 31, |
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Weighted
average
exercise price |
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Weighted
average
exercise price |
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Weighted
average
exercise price |
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| Options outstanding, beginning of period |
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303,364,922 |
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Rs. 632.43 |
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351,318,848 |
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Rs. 653.97 |
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282,749,020 |
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Rs. 706.63 |
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| Addition on account of eHDFC merger |
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97,119,362 |
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562.39 |
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— |
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— |
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| Granted |
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48,769,380 |
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805.92 |
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46,293,320 |
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864.92 |
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39,333,316 |
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965.16 |
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| Exercised |
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(92,609,932 |
) |
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566.86 |
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(105,910,094 |
) |
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599.21 |
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(80,542,270 |
) |
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634.70 |
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| Forfeited |
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(4,396,004 |
) |
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681.90 |
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(7,954,956 |
) |
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740.71 |
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(5,454,290 |
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825.04 |
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| Lapsed |
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(928,880 |
) |
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575.94 |
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(998,098 |
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639.63 |
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(2,121,738 |
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678.92 |
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| Options outstanding, end of period |
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351,318,848 |
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Rs. 653.97 |
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282,749,020 |
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Rs. 706.63 |
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233,964,038 |
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Rs. 772.53 |
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| Options exercisable, end of period |
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197,659,712 |
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Rs. 600.83 |
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162,671,074 |
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Rs. 639.96 |
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128,774,138 |
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Rs. 691.48 |
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| Weighted average fair value of options granted during the year |
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Rs. 303.64 |
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Rs. 328.33 |
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Rs. 364.64 |
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| Schedule of Share-based Compensation, Restricted Stock Units, Activity |
Activity in the RSUs outstanding under the various Employees’ Stock Incentive Master Scheme is as follows:
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Number of RSUs available to be granted
fiscal year ending March 31, |
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| RSUs available to be granted, beginning of period |
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194,218,000 |
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175,923,152 |
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164,883,974 |
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| Equity shares allocated for grant under the plan |
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— |
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— |
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— |
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| RSUs granted |
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(18,708,448 |
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(12,509,150 |
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(12,103,168 |
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| Forfeited/lapsed |
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413,600 |
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1,469,972 |
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1,771,614 |
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| RSUs available to be granted, end of period |
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175,923,152 |
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164,883,974 |
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154,552,420 |
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| Activity in the RSUs outstanding under the various Employees’ Stock Incentive Master Scheme is as follows:
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Fiscal years ended March 31, |
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Weighted
average
exercise price |
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Weighted
average
exercise price |
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Weighted
average
exercise price |
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| RSUs outstanding, beginning of period |
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5,782,000 |
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Rs. 1.0 |
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23,443,608 |
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Rs. 1.0 |
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29,770,856 |
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Rs. 1.0 |
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| Granted |
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18,708,448 |
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1.0 |
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12,509,150 |
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1.0 |
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12,103,168 |
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1.0 |
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| Exercised |
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(633,240 |
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1.0 |
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(4,711,930 |
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1.0 |
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(8,382,710 |
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1.0 |
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| Forfeited |
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(407,000 |
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1.0 |
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(1,367,662 |
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1.0 |
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(1,417,772 |
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1.0 |
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| Lapsed |
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(6,600 |
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1.0 |
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(102,310 |
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1.0 |
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(353,842 |
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1.0 |
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| RSUs outstanding, end of period |
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23,443,608 |
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Rs. 1.0 |
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29,770,856 |
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Rs. 1.0 |
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31,719,700 |
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Rs. 1.0 |
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| RSUs exercisable, end of period |
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752,140 |
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Rs. 1.0 |
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2,414,396 |
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Rs. 1.0 |
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2,886,168 |
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Rs. 1.0 |
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| Weighted average fair value of RSUs granted during the year |
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Rs. 782.72 |
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Rs. 862.34 |
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Rs. 952.26 |
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| Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range |
The following summarizes information about stock options outstanding as of March 31, 2026:
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| Plan |
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Range of exercise price |
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Number of
shares arising
out of options |
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Weighted
average
remaining life
(years) |
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Weighted
average
exercise price |
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| Plan E |
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Rs. 818.45 (or US$ 8.72) |
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8,961,100 |
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4.00 |
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Rs. 818.5 |
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| Plan F |
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Rs. 818.45 (or US$ 8.72) |
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21,432,440 |
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3.98 |
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Rs. 818.5 |
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| Plan G |
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Rs. 617.90 to Rs. 836.55 (or US$ 6.59 to US$ 8.92) |
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87,535,624 |
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2.37 |
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Rs. 705.1 |
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| Plan H |
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Rs. 838.65 to Rs. 966.50 (or US$ 8.94 to US$ 10.30) |
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81,471,576 |
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5.70 |
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Rs. 913.3 |
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| eHDFC |
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Rs. 80.40 to Rs. 934.44 (or US$ 0.86 to US$ 9.96) |
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34,563,298.0 |
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1.63 |
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Rs. 570.97 |
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| Schedule of Share-based Compensation, Shares Authorized under Restricted Stock Units Plans, by Exercise Price Range |
The following summarizes information about RSUs outstanding as of March 31, 2026:
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| Plan |
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Range of exercise price |
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Number of
shares arising
out of units |
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Weighted
average
remaining life
(years) |
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Weighted
average
exercise price |
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| ESIS-2022 |
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Rs. 1.00 (or US$ 0) |
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31,719,700 |
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2.45 |
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1.00 |
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