Essel Propack Ltd grants 2953000 options

The Nomination and Remuneration Committee of the Board of Directors of Essel Propack Ltd at its meeting held on March 19, 2015, have approved the grant of 29,53,000 (Twenty Nine Lakhs Fifty Three Thousand) Stock Options to the eligible employees of the Company and its subsidiaries under the "Essel Employee Stock Option Scheme 2014" representing an equal number of equity shares of face value of Rs. 2/- each to be allotted by the Company, at an exercise price of Rs. 121.65 per share being the closing market price of the equity shares of the Company on the National Stock Exchange of India Limited as on March 18, 2015.

The options will vest in a phased manner over a period of 3 years and may be exercised within maximum 4 years from the date of vesting, subject to terms and conditions of the said Scheme.

Shares of ESSEL PROPACK LTD. was last trading in BSE at Rs.116.9 as compared to the previous close of Rs. 116.4. The total number of shares traded during the day was 57785 in over 293 trades.

The stock hit an intraday high of Rs. 117.7 and intraday low of 114.1. The net turnover during the day was Rs. 6653445.

Source : Equity Bulls

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