Grant of 12,17,000 and 10,35,050 employee stock options at ₹9.50 each under ESOP 2021

NRC approved grants under ESOP 2021: 12,17,000 options to company employees and 10,35,050 options to employees of subsidiary Steel Infra Solutions Company Limited, at an exercise price of ₹9.50 per option.

Sat 10 Oct 2026

Options granted to company employees

12,17,000 options at an exercise price of ₹9.50 per option

Options granted to subsidiary employees

10,35,050 options at an exercise price of ₹9.50 per option

Vesting and exercise terms

Minimum vesting 1 year; exercise allowed within 3 years from vesting

What was approved

The Nomination and Remuneration Committee of Lloyds Engineering Works approved the grant of Employee Stock Options under the Lloyds Steels Industries Limited Employee Stock Option Plan – 2021, by a circular resolution dated October 10, 2026.

The two grants

• 12,17,000 options to eligible employees of the company, at an exercise price of ₹9.50 per option.
• 10,35,050 options to eligible employees of Steel Infra Solutions Company Limited (SISCOL), a subsidiary, at an exercise price of ₹9.50 per option.

How the options work

On exercise, each option results in one equity share of the company. The total number of shares covered by the options granted on the date of this grant is therefore 12,17,000 for the company grant and 10,35,050 for the subsidiary grant.

The options carry a minimum vesting period of one (1) year from the date of grant, and each tranche must be exercised within 3 years from its respective vesting date. Vesting follows the schedule set out in the respective grant letters.

What else the disclosure says

• The plan is stated to be in terms of the SEBI (Share Based Employee Benefits & Sweat Equity) Regulations, 2021.
• The company has received in-principle approval from BSE Limited and the National Stock Exchange of India Limited for the plan.

How a retail investor can read this

An ESOP grant is a way of linking employee reward to the company's shares. Options are not shares yet.

They become shares only when employees exercise them, and only after the vesting conditions are met. Since exercise happens over the vesting and exercise window, the conversion into shares happens over time rather than at once.

The exercise price of ₹9.50 per option is the price at which an employee can buy one share under the plan. The grant itself is a committee approval; the shares arise later, when options are actually exercised.

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