Nature of the Event

Jindal Stainless Limited (JSL) has intimated the stock exchanges regarding the grant of options under its 'JSL – Employee Stock Option Scheme 2023' (ESOS 2023). This is a regulatory disclosure made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Quantitative Figures

  • Total Options Granted: 39,608
  • Breakdown: 19,804 Employee Stock Options (ESOPs) and 19,804 Restricted Stock Units (RSUs).
  • Total number of shares covered: 39,608 equity shares of face value ₹2 each.
  • ESOP Exercise Price: ₹349 per share.
  • RSU Exercise Price: ₹2 per share (face value).

Dates of Action

The Nomination and Remuneration Committee approved the grant via a resolution passed through circulation on June 23, 2026.

The exercise price for the ESOPs is based on the closing market price on the National Stock Exchange (NSE) on June 19, 2026 (the date immediately preceding the grant date).

Parties Involved

The approval was granted by the company's Nomination and Remuneration Committee (also referred to as the Compensation Committee).

The intimation was signed by Navneet Raghuvanshi, Head-Legal, Company Secretary & Compliance Officer of Jindal Stainless Limited.

Historical Scheme Data (as of March 31, 2026)

The disclosure provides the following historical data points for the overall ESOS 2023 scheme, separate from the current grant:

  • Total Options Vested: 8,31,560
  • Total Options Exercised: 5,15,236
  • Total Money Realized from Exercised Options: ₹7,12,20,579.5 (₹7.12 Crore)
  • Total Options Lapsed: 4,87,180

Terms of the Options

  • The scheme is in terms of the SEBI (Share Based Employee Benefits) Regulations, 2021.
  • The exercise price for ESOPs was set at a 50% discount to the closing market price on NSE on June 19, 2026.
  • The exercise price for RSUs is the face value of the share.
  • All options, upon vesting, have an exercise period of 4 (Four) years.
  • The company confirmed there is no variation of the terms of options.

Financial and Capital Structure Impact

For the current grant of 39,608 options, the following are stated as 'Not Applicable': Options Vested, Options Exercised, Money Realized by exercise of options, Options Lapsed, and Diluted Earnings Per Share. The potential future dilution, upon full exercise of this grant, would be 39,608 equity shares.

#Tags: #JindalStainless #ESOP #SEBIDisclosure #RegulatoryCompliance #Neutral