Bajel Projects Grants 262,000 ESOPs to 5 Employees

Key Quantitative Figures

The Nomination & Remuneration Committee approved the grant of 2,62,000 (Two Lakh Sixty Two Thousand Only) stock options. These options are exercisable into not more than 2,62,000 equity shares of face value of ₹2 (Rupee two Only) each. The exercise price was set at ₹109.89 per option.

Parties Involved

The grant was made to 5 eligible employees of Bajel Projects Limited. The approval was given by the Nomination & Remuneration Committee of the Board of Directors.

Terms and Conditions

The options shall vest not earlier than minimum period of 1 (one) year and not later than maximum period of 5 (five) years from the Grant Date. Vested options shall be exercisable within a maximum period of 7 years from the date of first vesting. The equity shares allotted pursuant to exercise of the Stock Options would not be subject to lock-in. The scheme provides for manner in which Options would be dealt with in case of death, permanent incapacity, termination, resignation, retirement etc.