Intimation of grant of stock options to eligible employees under the Laxmi India Finance Limited Employee Stock Option Scheme -2023
LAXMIINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Nomination and Remuneration Committee (NRC) of Laxmi India Finance Ltd approved the grant of 4,11,857 stock options to eligible employees under the ESOP Scheme-2023. Each option is convertible into 1 equity share with a face value of Rs. 5. The exercise price is determined by the NRC in compliance with the Companies Act, 2013 and SEBI regulations, and will not be lower than the face value. Options will vest between 1 to 4 years from the grant date, with an exercise period of up to 5 years from vesting. This is a disclosure under SEBI LODR Regulations 30 and 51.
The ESOP grant aligns employee interests with shareholders, creating incentives for performance. As no options have been exercised yet and exercise price is at or above face value, immediate dilution is minimal, but future exercises could impact equity structure.