Praj Industries Ltd grants 19,69,700 Options

The Compensation and Share Allotment Committee of Praj Industries Ltd on 27th September, 2017, the Company has granted 19,69,700 Options under Praj ESOP 2011 Grant VII to its eligible employees on the following terms and conditions.

Vesting Period After expiry of 12 months from the date of Grant. There will be only one vesting.
Exercise Period Not later than 3 years from the date of vesting.
Exercise Price The exercise price offered is on the basis of average market price of the shares for the last three months reduced by around 30% discount ; hence, the exercise price per option is Rs.50/-
Conversion Upon exercise of options vested in an employee and payment of exercise price of Rs. 50/- per option, each option will be converted into one equity share of Rs.2/- each.

Shares of PRAJ INDUSTRIES LTD. was last trading in BSE at Rs.66.25 as compared to the previous close of Rs. 68.55. The total number of shares traded during the day was 58027 in over 408 trades.

The stock hit an intraday high of Rs. 69.5 and intraday low of 63. The net turnover during the day was Rs. 3894684.

Source : Equity Bulls

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