News Corporate Actions Vikram Solar Grants 17.22 Lakh Employee Stock Options Under ESOP 2021 PlanVikram Solar Grants 17.22 Lakh Employee Stock Options Under ESOP 2021 Plan
Vikram Solar Limited has approved the grant of 17,22,000 employee stock options under its Employee Stock Option Plan 2021. The options, priced at ₹210.69 per share, are available to eligible employees of the company and its group associate companies. The plan includes a minimum vesting period of 1 year and a maximum exercise period of 60 months from the vesting date. This move aligns with the company's strategy to attract and retain talent by offering participation in its growth.
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Vikram Solar Limited has announced the grant of employee stock options under its Employee Stock Option Plan 2021, marking a significant step in its employee incentive program. The company's Nomination and Remuneration Committee (NRC) approved this grant of 17,22,000 employee stock options to eligible employees of the company and its group associate companies.
Stock Option Grant Details
The committee has approved the issuance of 17,22,000 employee stock options to eligible employees of Vikram Solar and its group associate companies. This substantial grant demonstrates the company's commitment to employee participation in its growth story.
| Parameter | Details |
|---|---|
| Total Options Granted | 17,22,000 |
| Exercise Price | ₹210.69 per share |
| Face Value per Share | ₹10.00 |
| Plan | Vikram Solar Employee Stock Option Plan 2021 |
| Beneficiaries | Eligible employees and group associate company employees |
Vesting and Exercise Terms
The granted stock options come with specific terms and conditions designed to align employee interests with long-term company performance. The options have been structured with a minimum vesting period to ensure employee retention and commitment.
| Terms | Specifications |
|---|---|
| Minimum Vesting Period | 1 year from grant date |
| Maximum Exercise Period | 60 months from vesting date |
| Vesting Schedule | As specified in individual grant letters |
| Exercise Method | Conversion to equity shares |
Regulatory Compliance
The stock option grant has been made in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The company has fulfilled all disclosure requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The exercise price of ₹210.69 per option has been determined by the Nomination and Remuneration Committee and subsequently ratified by the Board of Directors, ensuring proper governance in the pricing mechanism. Each granted option is exercisable into equity shares of face value ₹10.00, fully paid.
Employee Incentive Strategy
This employee stock option grant represents Vikram Solar's strategy to attract, retain, and motivate talented employees by providing them with an opportunity to participate in the company's future growth. The plan covers employees across the company and its group associate companies, ensuring broad-based participation in the incentive program.
The company has structured the vesting schedule to be specified in individual grant letters, allowing for customized arrangements based on employee roles and performance criteria. This approach provides flexibility while maintaining the overall framework of the ESOP 2021 plan.
Historical Stock Returns for Vikram Solar
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.88% | +4.12% | -21.36% | -49.25% | -49.13% | -49.13% |
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