TD Power Systems' committee approved grant of 24,000 ESARs to eligible employees under its 2019 compensation plan.
The ESARs have an exercise price of ₹2 per share and a base price of ₹882, representing a 25% discount to the previous closing price.
The new grants will vest in three equal annual installments over a 3-year period starting one year from the grant date.
Cumulatively, the company has granted 20.70 lakh ESARs under the plan, with 19.63 lakh vested and 19.36 lakh exercised to date.