Gruh Finance Ltd grants 4500000 Stock Options under Employees Stock Option Scheme

The Compensation Committee of Directors of Gruh Finance Ltd at its meeting held on January 30, 2015, has approved the grant of 45,00,000 options in respect of 45,00,000 equity shares of Rs. 2 each, in accordance with the special resolution passed at the 28th AGM held on May 28, 2014.

The said options have been granted at a price of Rs. 268.20 per option, being the market price as defined in Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014, and the erstwhile SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999.

Each option upon exercise would be entitled for allotment of one equity share of Rs. 2/- each of the Company. Subject to fulfilling the conditions specified in the scheme, the options would vest over a maximum period of 3 years. The exercise period in respect of the said options shall be 3 years from the date of vesting.

Shares of GRUH FINANCE LTD. was last trading in BSE at Rs.267.25 as compared to the previous close of Rs. 275.2. The total number of shares traded during the day was 106785 in over 2540 trades.

The stock hit an intraday high of Rs. 274 and intraday low of 266. The net turnover during the day was Rs. 28823099.

Source : Equity Bulls

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