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| Exchange Received Time 30/11/2017 12:23:51 Exchange Disseminated Time 30/11/2017 12:23:59 Time Taken 00:00:08 | We wish to inform you that the Nomination and Remuneration Committee of the Board of Directors of the Company has, vide Circular Resolutions passed by its Members on November 29, 2017, approved the grant of 12,00,000 (Twelve Lacs) Stock Options to eligible employees under the Employee Stock Option Scheme 2017 ('ESOP 2017'/ 'PLAN').
The above grants have been made in compliance with the provisions of the SEBI (Share Based Employee Benefits) Regulations, 2014 and are subject to the provisions of ESOP 2017 of the Company. In terms of the above grant:
i) each Stock Option is convertible into one equity share (face value of Rs. 1/-
each) of the Company upon vesting, at an exercise price of Rs. 12.50/- per
Stock Option;
ii) all Stock Options shall vest on the last day of the of 5th year from the Grant
date;
iii)Stock Options shall be exercisable within a period of nine years from the Grant
date.
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