Please find attached update pertaining to Godrej Industries Limited- Employee Stock Grant Scheme, 2011, which is self-explanatory.
GODREJIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Godrej Industries' Nomination and Remuneration Committee has approved the grant of 35,998 fresh stock options to eligible employees under the ESGS 2011 scheme. Each option carries an exercise price of ₹1 per option and entitles the holder to apply for one equity share of ₹1 face value. The options vest over 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 the same scheme, meaning those employees forfeit any claim to those grants. The company has filed this intimation under SEBI Listing Regulations, 2015.
The fresh grant of ~36,000 options represents a modest dilution and is a routine employee compensation event with minimal near-term impact on the stock. The lapse of 4,347 grants reduces the net share issuance from this scheme.