As per an exchange filing, Poonawalla Fincorp is granting stock options under the Employee Stock Option Plan-2024 Scheme-II (ESOP-2024 Scheme-II). The decision to grant ESOPs was taken by the Nomination and Remuneration Committee of the Board of Directors on 17 June, 2024.
The move aligns and complies with the periodically updated SEBI (Share Based Employee Benefits & Sweat Equity) Regulations, 2021. The objective of the company is to reward the hard work of the employees and also retain its ace talent by giving them an opportunity to be part-owners in the company’s growth.
Under Tranches 04 and 05, a total of 2,000,000 and 2,30,000 stock options were granted to eligible staff members, respectively, as per
ESOP-2024 Scheme-II. Rs 471.55 and Rs 438.53, respectively. are the exercise prices for these options. These stock options will be vested as per the schedule given in the ESOP-2024 Scheme-II.
The company’s market capitalisation is 33,872.62 crore and its stock is presently trading down over 15 per cent compared to the Rs 519.70 on 19 January 2024, which was the highest in 52 weeks. The stocks of the company were trading at Rs 437.20 this morning on the Bombay Stock Exchange (BSE).
Yes Bank, FSN E-commerce Ventures (which is the parent company of Nykaa, the e-commerce firm) and IIFL also issued stock options to employees.
