Committee approves grant of 56,51,643 stock options at Rs. 418.00 per option

Committee approved grant of 56,51,643 stock options to eligible employees under ESOP 2013 and ESOP 2018.

Mon 12 Oct 2026

Stock Options Granted

56,51,643 stock options to eligible employees

Exercise Price

Rs. 418.00 per option

Vesting Schedule

30%, 30% and 40% at end of first, second and third year; exercisable within five years from vesting

What the bank informed the exchange

The Nomination and Remuneration Committee, at its meeting held on October 12, 2026 (the Grant Date), approved the grant of 56,51,643 stock options to eligible employees. These options are convertible into 56,51,643 equity shares of Rs. 10/- each, under the Employee Stock Option Plan 2013 and the Employee Stock Option Plan 2018.

Key terms of the grant

• Exercise price: Rs. 418.00 per option, being the latest available closing price on October 09, 2026, the previous trading day before the Grant Date, on the National Stock Exchange of India Limited, the exchange which recorded the higher trading volume.
• Vesting: 30%, 30% and 40% at the end of the first, second and third year respectively.
• Exercise window: within five years from the date of vesting.

What an ESOP grant means

An employee stock option gives an employee the right to buy one share of the bank later, at a price fixed today. Here that fixed price is Rs. 418.00 per option. The employee does not get the share immediately: the options become available in three tranches over three years, and after that the employee has up to five years to pay the exercise price and take the shares.

What it means for shareholders

• This is part of how the bank pays and retains employees; no money comes in at the time of the grant.
• Money comes in only when employees exercise the options, paying Rs. 418.00 per option.
• When the options are exercised, new equity shares are issued, so the total number of shares of the bank can go up over time. How much it goes up depends on how many of the 56,51,643 options are actually exercised.
• The process is spread over years because vesting happens in three tranches, so the change builds up gradually rather than at one go.

Points to keep in mind

• The grant is a committee approval; the shares come into existence later, on exercise.
• Vesting is linked to the employee staying with the bank, and is subject to the terms of ESOP 2013 and ESOP 2018.
• An employee has five years from the date of vesting to exercise the option, subject to the other terms and conditions of the two plans.

The headline number to remember: 56,51,643 options, convertible into the same number of equity shares, at Rs. 418.00 per option, vesting 30%, 30% and 40% over three years.

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