LUPIN LTD. - Grant of Options under Employees Stock Option Plan (ESOP)

Lupin Ltd has informed BSE that the Company has granted 26700 options to the employees of its Subsidiary Companies, under "Lupin Subsidiary Companies Employees Stock Option Plan 2011" on November 20, 2014, at the exercise price of Rs. 1449.35.<br/><br/>Further the Company has informed that, one equity share of Rs. 2/- each is covered by each option. The options issued are exercisable at the 'market price' as defined in the SEBI (SBBI) Regulations, 2014, in a phased manner after a minimum vesting period of 12 months but before the exercise period of 10 years from the date of grant.