Date: July 21, 2026
Board Meeting Outcomes
The Nomination and Remuneration Committee (NRC) of Leela Palaces Hotels & Resorts Limited passed a circular resolution on July 21, 2026. The resolution approved the grant of 21,61,729 employee stock options to eligible employees under the company's Leela Employee Stock Option Scheme 2024 (ESOP Scheme).
ESOP Grant Details
Scheme Compliance: The ESOP scheme is in terms of SEBI (Share Based Employees Benefits and Sweat Equity) Regulations, 2021.
Total Options Granted: 21,61,729 options. Each stock option is convertible into one fully paid-up equity share with a face value of ₹10 each.
Exercise Price: The exercise price is set at ₹435 (Four Hundred and Thirty-Five) per option.
Vesting Status: Options are not yet vested as of this announcement.
Exercise Period: The maximum exercise period is 5 (five) years from the date of vesting, subject to the terms and conditions of the Scheme.
Other Details:
- Options exercised: Not Applicable
- Money realized by exercise of Options: Not Applicable
- Total number of shares arising from exercise: Not Applicable
- Options lapsed: Not Applicable
- Variation in terms of Options: Not Applicable
- Subsequent changes or cancellation: Not Applicable
- Diluted earnings per share impact: Not Applicable
Significant Terms: The grant is governed by the terms of the ESOP Scheme and the Grant Letter. This includes provisions for vesting, exercise of options, and treatment upon events such as death, permanent incapacity, resignation, termination of employment, or retirement. The grant is personal to the Grantee and is not transferable.
Company Contact
Compliance Officer: Jyoti Maheshwari, Company Secretary and Compliance Officer (Membership No.: A24469)