NewsCorporate ActionsBliss GVS Pharma Grants 5.53 Lakh Stock Options to Employees at 72% DiscountBliss GVS Pharma Grants 5.53 Lakh Stock Options to Employees at 72% Discount
Bliss GVS Pharma Limited has approved the grant of 553,000 stock options to eligible employees under its Employee Stock Options Plan 2019. The options are priced at Rs. 43.00 per share, a 72.05% discount to market price. The options will vest over four years in equal installments, with a six-month exercise period after vesting. Additionally, the company announced the resignation of Managing Director Mr. Gagan Harsh Sharma and the appointment of Mr. Shreekrushna Joshi as Head – Legal.
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Bliss GVS Pharma Limited , a prominent player in the Indian pharmaceutical sector, has taken a significant step to incentivize its workforce. The company's Nomination and Remuneration Committee approved the grant of 5,53,000 stock options to eligible employees under its Employee Stock Options Plan 2019.
Key Details of the Stock Option Grant
| Particulars | Details |
|---|---|
| Number of Options Granted | 5,53,000 |
| Exercise Price | Rs. 43.00 per share |
| Face Value of Shares | Re. 1.00 each |
| Discount to Market Price | 72.05% |
| Vesting Schedule | 25% each after 12, 24, 36, and 48 months from grant date |
| Exercise Period | Within 6 months of vesting |
| Lock-in Period | 6 months from allotment of equity shares |
Vesting and Exercise Details
The stock options will vest in four equal installments over four years, with each tranche representing 25% of the total granted options. This staggered vesting schedule aims to promote long-term employee retention and align employee interests with those of the company's shareholders.
Once vested, employees will have a window of six months to exercise their options.
Potential Impact on Employee Retention and Motivation
By offering these stock options at a substantial discount of 72.05% to the market price, Bliss GVS Pharma is providing a potentially lucrative opportunity for its employees. This move may serve to:
- Enhance employee loyalty and retention
- Align employee interests with company performance
- Attract top talent in a competitive pharmaceutical industry
Additional Corporate Updates
Bliss GVS Pharma also announced significant changes in its leadership:
Resignation of Managing Director: Mr. Gagan Harsh Sharma has resigned from his position as Managing Director, effective immediately, citing other professional commitments.
New Senior Management Appointment: Mr. Shreekrushna Joshi has been appointed as Head – Legal and designated as Senior Management Personnel, bringing over 15 years of experience in corporate legal and secretarial compliance.
These changes in the company's leadership structure, coupled with the employee stock option grant, signal a period of transition for Bliss GVS Pharma.
Historical Stock Returns for Bliss GVS Pharma
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +7.69% | +0.94% | +8.52% | +25.50% | +3.69% | -2.81% |
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