Grant of 4.7 lakh options under ESOP 2024 at Rs. 375 per share
The Nomination and Remuneration Committee approved a grant of 4.7 lakh stock options to eligible employees under Solara ESOP 2024.
By ScoutQuest · · 2 min read
- Options granted
- 4.7 lakh stock options (4,70,000 shares) under Solara ESOP 2024
- Exercise price
- Rs. 375/- per share
- Exercise window
- within 120 days from the date of vesting
What was approved
The Nomination and Remuneration Committee of the Board approved a grant of 4.7 lakh stock options to eligible employees of the company under the "Solara Employee Stock Option Plan - 2024". The decision was taken at the committee's meeting held on Friday, October 16, 2026.
Grant terms
- Exercise price: Rs. 375/- per share.
- Total number of shares covered by these options: 4,70,000.
- Options are to be exercised within 120 days from the date of vesting.
- The scheme is stated to be in terms of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
What an ESOP grant means
An employee stock option gives an employee the right to buy one share of the company at a pre-fixed price, here Rs. 375/- per share, after the option vests. The employee pays that price and receives the share. If the share is worth more than the exercise price at that time, the difference is the employee's gain. If it is not, the employee may choose not to exercise the option. Because the option is a right and not an obligation, the company uses such grants to attract and retain employees.
How it can affect existing shareholders
When options are eventually exercised, the company issues new shares. That adds to the total number of shares, which is why the exercise of options is commonly described as having a dilutive effect on existing shareholders' holding. The size of that effect depends on how many options are exercised and the company's total share capital at that point.
What to keep in mind
- The grant is the starting point; the shares arise only when an employee exercises a vested option.
- The exercise price of Rs. 375/- per share is the amount the employee pays to the company for each share at the time of exercise.
- The 120 days window applies from the date of vesting, and options cannot be exercised after that period ends.
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More numbers
- Stock options granted under SOLARA ESOP 20244,70,000
- Total number of shares covered by these options4,70,000
- Exercise price per shareRs. 375/-
- Time within which options may be exercised from vesting120 days
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