Godrej Industries Limited has informed the Exchange regarding Grant of 35998 Options.
GODREJIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Godrej Industries' Nomination and Remuneration Committee approved the grant of 35,998 stock options to eligible employees under the Employees Stock Grant Scheme, 2011 (ESGS 2011). Each option carries an exercise price of ₹1 per option, entitling the holder to one equity share of face value ₹1. The options vest over a period of 3 years and are exercisable within 1 month from the date of vesting. Separately, the Committee noted the lapse of 4,347 stock grants previously issued under ESGS 2011, extinguishing any rights of the concerned employee to those grants. The company disclosed this under Regulation 30 of SEBI's LODR Regulations, 2015.
The fresh grant of ~36,000 options at ₹1 exercise price represents a negligible equity dilution given the small quantity and low face value of shares involved. The lapse of 4,347 options is neutral and simply prevents any unused grants from being exercised.