Laxmi India Finance Limited has informed the Exchange about Options to purchase securities.
LAXMIINDIA · price
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Laxmi India Finance Limited's Nomination and Remuneration Committee has approved the grant of 4,11,857 stock options to eligible employees under the ESOP Scheme-2023. Each stock option is convertible into 1 equity share with a face value of Rs. 5. The exercise price is determined by the NRC in accordance with the Companies Act, 2013 and SEBI regulations, and will not be lower than the face value. Options will vest over a period of 1 to 4 years from the grant date, and employees can exercise them within 5 years from vesting. The grant is based on employee performance, loyalty, and company performance criteria.
This is a routine employee compensation announcement. While it creates potential dilution of up to 4,11,857 shares, the impact on existing shareholders is minimal at this stage as no options have been exercised yet.