Religare Enterprises Limited submitted a clarification letter to the National Stock Exchange of India Limited and BSE Limited to correct an inadvertent clerical/typographical error in its previous disclosure dated November 12, 2026 regarding the grant of Employee Stock Options (ESOPs).
The error concerned the number of options granted, which was previously reported as 25,998 (Twenty Five Thousand Nine Hundred Ninety Eight) options. The corrected number is 5,80,998 (Five Lakh Eighty Thousand Nine Hundred and Ninety Eight) options.
ESOP Scheme Details
- Total options granted: 5,80,998 stock options
- Underlying shares: Each stock option is convertible into one equity share of face value of ₹10 each
- Total shares covered: 5,80,998 equity shares
- Pricing formula: ₹230.78 per equity share upon exercise of stock options
- Compliance: The scheme is in conformity with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 and has been approved by both the Board of Directors and Shareholders
Vesting Schedule
The ESOPs will vest in five equal annual installments of 20% each year:
- 1st Year: 1,16,199 options vested upon completion of one year from date of grant
- 2nd Year: 1,16,199 options vested
- 3rd Year: 1,16,199 options vested
- 4th Year: 1,16,199 options vested
- 5th Year: 1,16,202 options vested
Exercise Period
The options may be exercised not later than 8 (eight) years from the date of vesting.
Current Status
- Options vested: Not applicable (as options are newly granted)
- Options exercised: Not applicable
- Options lapsed: Not applicable
- Variation of terms: Not applicable
- Subsequent changes/cancellation/exercise: Not applicable
- Diluted EPS impact: Options are yet to be exercised