Grasim Industries Ltd Grants 24350 Stock Options

The Nomination and Remuneration Committee of the Board of Directors of Grasim Industries Ltd has, vide a circular resolution passed by its members, approved Grant of 24,350 (Twenty-Four thousand three hundred fifty only) Employee Stock Options ("Options") and 3,333 (Three thousand three hundred thirty three) Employee Restricted Stock Units ("RSUs") of the Company to an eligible Employee of the Company under the Scheme 2013.

In terms of the said Grant, each Option shall be convertible into one Equity Share of the Company upon Exercise thereof, at a price of Rs. 3,500 per share (inclusive of premium @ Rs. 3,490 per share) and the Options shall vest in 4 equal annual instalments commencing at the end of one year from the date of the Grant and shall be exercisable within a period of 5 years from the date of each vesting.

Each RSU shall be convertible into one Equity Share of the Company upon Exercise thereof, at a price of Rs. 10 per RSU (i.e., at the face value of the Equity shares of the Company as on the date of Grant) and the RSUs shall vest at the end of 3 years from the date of the Grant and shall be exercisable within a period of 5 years from the date of vesting.

The Grant is subject to the terms of the Securities and Exchange Board of India (Shared Based Employee Benefits) Regulations, 2014.

Shares of GRASIM INDUSTRIES LTD. was last trading in BSE at Rs.3449.15 as compared to the previous close of Rs. 3452.85. The total number of shares traded during the day was 1561 in over 406 trades.

The stock hit an intraday high of Rs. 3481.2 and intraday low of 3439. The net turnover during the day was Rs. 5398369.

Source : Equity Bulls

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