Godawari Power and Ispat Allots 1,97,002 Equity Shares Under Employee Stock Option Plan
Godawari Power and Ispat Limited allotted 1,97,002 equity shares under GPIL ESOP-2023 following committee approval on 21.03.2026. The allotment generated Rs.2,28,91,632.40 at Rs.116.20 per share exercise price, increasing paid-up capital to Rs.67,13,64,910. The shares comprise 1,72,480 from first grant and 24,522 from second grant, bringing cumulative allotment to 10,17,470 shares.
*this image is generated using AI for illustrative purposes only.
Godawari Power and Ispat Limited has successfully allotted 1,97,002 equity shares under its Employee Stock Option Plan 2023 (GPIL ESOP-2023), marking another milestone in the company's employee benefit initiatives. The Nomination and Remuneration Committee approved the allotment through a circular resolution passed on 21.03.2026 at around 10:45 A.M.
Share Allotment Details
The allotment comprises shares from two different grants under the ESOP scheme:
| Grant Type | Shares Allotted Earlier | Shares Allotted Today | Cumulative Shares Allotted |
|---|---|---|---|
| 1st Grant | 7,82,850 | 1,72,480 | 9,55,330 |
| 2nd Grant | 37,618 | 24,522 | 62,140 |
| Total | 8,20,468 | 1,97,002 | 10,17,470 |
The 1,97,002 equity shares have a face value of Re. 1 each and are fully paid up. These shares will rank pari-passu with the existing equity shares of the company in all respects.
Financial Impact and Pricing
The exercise of these stock options generated Rs.2,28,91,632.40 for the company. The exercise price was set at Rs.116.20 per share, which reflects a 25% discount to the market price as determined by the company's pricing formula. This pricing was adjusted following the company's share subdivision, where one equity share of face value Rs. 5 was subdivided into five equity shares of Re. 1 each.
Consequent to this allotment, the company's paid-up share capital has increased from Rs.67,11,67,908 to Rs.67,13,64,910.
ESOP Scheme Structure
The GPIL ESOP-2023 operates under a structured vesting schedule designed to retain talent and align employee interests with company performance:
- 35% of total eligible options vest on the first anniversary of the grant date
- 35% of total eligible options vest on the second anniversary of the grant date
- 30% of remaining options vest on the third anniversary of the grant date
Employees can exercise their vested options within three years from the date of vesting. The scheme complies with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
Additional Developments
During the reporting period, 2,48,690 options lapsed due to employee resignations, highlighting the natural attrition factor in ESOP schemes. The company reported that there were no variations in the terms of options other than adjustments for corporate actions related to share subdivision.
The diluted earnings per share pursuant to the issue of equity shares on exercise of options stands at Rs. 8.91, calculated based on the company's earnings for the nine-month period ended 31.12.2025. The newly allotted equity shares are not subject to any lock-in period, providing immediate liquidity to the option holders.
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