Grant of 30,53,414 ESOP Options at Rs. 64.71 Exercise Price
The NRC approved a grant of 30,53,414 options under the Bank ESOP Scheme 2019 on September 28, 2026.
By ScoutQuest · · 1 min read
- Options Granted
- 30,53,414 options
- Exercise Price
- Rs. 64.71
- Vesting Schedule
- 20% / 20% / 30% / 30% over four years
- Exercise Window
- 5 years from each vesting date
- Approval Date
- September 28, 2026
What was announced
The Nomination and Remuneration Committee of the Board, on September 28, 2026, approved a grant of 30,53,414 options under the Bank ESOP Scheme 2019.
Key terms
- Each granted option, on vesting, confers the right to exercise and subscribe for 1 fully paid equity share.
- Exercise price: Rs. 64.71, the closing price on the previous trading day immediately preceding the grant date (September 25, 2026).
- Under the scheme, the price is the lower of the last traded price on NSE on that day or the 3-month average of the volume weighted average price of the Bank's shares.
- Vesting: Year 1 - 20%, Year 2 - 20%, Year 3 - 30%, Year 4 - 30%.
- Exercise window: 5 years from the date of respective vesting.
- The scheme is stated to be in terms of the SEBI (SBEB and Sweat Equity) Regulations, 2021.
What it means
ESOPs are a way of paying and retaining employees with a stake in the company. Shares are issued only if and when employees' options vest and are exercised, spread over several years. If fully exercised in due course, this would add up to 30,53,414 new equity shares, a small dilution for existing shareholders.
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More numbers
- Options granted30,53,414
- Exercise priceRs. 64.71
- Shares per option on vesting1 fully paid equity shares
- Vesting Year 120%
- Vesting Year 220%
- Vesting Year 330%
- Vesting Year 430%
- Exercise period from vesting5 years
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