Welspun Corp Limited grants 23,50,000 stock options

The Nomination and Remuneration Committee of Welspun Corp Limited at its meeting held on August 16, 2018, approved grant of 23,50,000 stock options under Welspun Employee Stock Option Plan ('WELSOP') representing an equal number of equity shares of face value of Rs. 5/- each in the Company, at an exercise price of Rs. 100/-. The ESOPs so granted, shall vest on three anniversaries beginning from August 16, 2019, the first vesting date, in installments of 30%, 35%and 35% respectively. The options vested under each of the slabs can be exercised within a period of three years from the respective vesting date.

The ESOPs shall be governed as per WELSOP plan, which was submitted to the Exchanges at the time of obtaining in-principal approval.

Shares of Welspun Corp Limited was last trading in BSE at Rs.126.55 as compared to the previous close of Rs. 126.1. The total number of shares traded during the day was 16712 in over 184 trades.

The stock hit an intraday high of Rs. 127 and intraday low of 125.95. The net turnover during the day was Rs. 2114076.

Source : Equity Bulls

Keywords