Intimation of Grant of Options under "JSL- Employee Stock Option Scheme 2023".
JSL · price
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Jindal Stainless Ltd has announced the grant of 3,80,430 stock options to eligible employees under its JSL - Employee Stock Option Scheme 2023. The grant comprises 1,90,215 Employee Stock Options (ESOPs) at Rs. 383.70 per option (50% discount to the previous day's NSE closing price) and 1,90,215 Restricted Stock Units (RSUs) at face value of Rs. 2 each. Each option is convertible into one equity share of Rs. 2 face value. The options will vest as per the scheme schedule and can be exercised within 4 years. As of March 31, 2026, the company had 8,31,560 options vested, of which 5,15,236 were exercised and 4,87,180 lapsed.
This is a routine employee compensation event. While it involves potential share dilution, the number of options granted (3.8 lakh) is modest relative to the company's outstanding shares. The 50% discounted ESOP price could be seen as employee-friendly, aligning staff interests with shareholders.