Grant of options to Eligible Employees under Veefin-Employee Stock Option Scheme 2023
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Veefin Solutions' Nomination and Remuneration Committee approved the grant of 4,00,000 stock options to eligible employees under the company's ESOP 2023 scheme. Each option is convertible into one equity share of face value Rs. 10, with an exercise price also set at Rs. 10 per option. Vesting begins after 12 months and can extend up to 72 months from the grant date. The scheme is compliant with SEBI's SBEB Regulations, 2021. No options have been exercised yet, and the total shares arising from this grant upon exercise will be 4,00,000.
This is a routine ESOP allotment that introduces a mild future dilution of up to 4,00,000 shares if all options are exercised. It is generally neutral for existing shareholders but signals the company's intent to retain and incentivise employees through equity participation.