Grant of options under IIRM Employee Stock Option Plan 2025 (ESOP 2025)
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IIRM Holdings India's Nomination & Remuneration Committee approved a grant of 9 lakh stock options to employees on July 30, 2025. The grant is split into two parts: 2.75 lakh options to 13 employees with unconditional vesting (one-time reward for past services), and 6.25 lakh options to 35 employees with performance-linked vesting tied to FY 2025-26 performance. Each option converts into one equity share of Rs. 5 face value. The exercise price is fixed at Rs. 45.905 per share, which is a 50% discount to the closing market price on July 29, 2025. Vesting happens 18 months after the grant date, with a one-year exercise window, and the resulting shares carry no lock-in.
If all options vest and are exercised, up to 9 lakh new shares could be issued, leading to equity dilution for existing shareholders. The 50% discount to market price on the exercise price is a generous employee benefit and may modestly weigh on earnings per share, though the consolidated diluted EPS impact shown is minor (Rs. 3.13 vs Rs. 3.17 basic).