TDPOWERSYS · price
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TD Power Systems' Nomination and Remuneration Committee approved the grant of 24,000 Employee Stock Appreciation Rights (ESARs) to eligible employees. The exercise price is Rs. 2 per share with a base price of Rs. 882 (25% discount to the prior day's closing price). The new ESARs will vest in three equal installments over 3 years. To date, a total of 20,69,580 ESARs have been granted under the Plan, of which 19,63,110 have vested and 19,35,503 have been exercised. The scheme complies with SEBI Share Based Employee Benefits Regulations, 2014.
The ESAR grant is a routine employee retention tool and is not expected to have any immediate impact on the stock price. The potential dilution from future share allotments is minimal given the small number of new grants relative to total outstanding shares.