Employee stock options granted at Rs 62.86 per share
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The Nomination and Remuneration Committee approved 10,20,000 options for eligible employees under the 2023 ESOP scheme. Each option converts into one Rs 2 equity share at Rs 62.86, based on the October 26 closing price less 25 percent. Options vest fully after 12 months and can be exercised within three years from the last vesting date. The annexure gives conflicting totals of 10,20,000 and 10,20,00,000, requiring clarification.
Employee incentives may aid retention, but exercise could dilute existing shareholders. The conflicting grant quantity needs clarification.