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GRASIM INDUSTRIES LTD. - Grant of Stock Options
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21 Jan 2016
Grasim Industries Ltd has informed BSE that the Nomination and Remuneration Committee of the Board of Directors of the Company has, vide a circular resolution passed by its members, approved Grant of 24,350 (Twenty-Four thousand three hundred fifty only) Employee Stock Options (&quot;Options&quot;) and 3,333 (Three thousand three hundred thirty three) Employee Restricted Stock Units (&quot;RSUs&quot;) of the Company to an eligible Employee of the Company under the Scheme 2013.&lt;BR&gt;&lt;BR&gt;In terms of the said Grant,&lt;BR&gt;&lt;BR&gt;(i) each Option shall be convertible into one Equity Share of the Company upon Exercise thereof, at a price of Rs. 3,500 per share (inclusive of premium @ Rs. 3,490 per share);&lt;BR&gt;&lt;BR&gt;the Options shall vest in 4 equal annual instalments commencing at the end of one year from the date of the Grant and shall be exercisable within a period of 5 years from the date of each vesting;&lt;BR&gt;&lt;BR&gt;(ii) each RSU shall be convertible into one Equity Share of the Company upon Exercise thereof, at a price of Rs. 10 per RSU (i.e., at the face value of the Equity shares of the Company as on the date of Grant);&lt;BR&gt;&lt;BR&gt;the RSUs shall vest at the end of 3 years from the date of the Grant and shall be exercisable within a period of 5 years from the date of vesting.&lt;BR&gt;&lt;BR&gt;The Grant is subject to the terms of the Securities and Exchange Board of India (Shared Based Employee Benefits) Regulations, 2014.
View all announcements for GRASIM INDUSTRIES LTD. Source: BSE India