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Cipla and HDFC allot shares to employees as ESOP

Cipla and HDFC allot shares to employees as ESOP - HR Talk

Cipla has informed that the Operations and Administrative Committee of the Company on 18th April 2023 has allotted 6,537 fully paid-up equity shares of INR 2 each, pursuant to the exercise of employee stock options under the Employee Stock Option Scheme 2013-A of the Company. Consequently, the issued, subscribed and paid-up share capital of the Company stands increased to INR 1,61,43,14,260 comprising 80,71,57,130 equity shares of face value INR 2 each.

Similarly, HDFC Ltd said its board allotted 10,000 equity shares of ₹2 each to the company’s eligible employees under the Employee Stock Option Schemes – 2020.

“We wish to inform you that the Nomination and Remuneration Committee of Directors of the Corporation at its meeting held today i.e. on March 27, 2023, has approved a grant of 10,000 stock options representing 10,000 equity shares of ₹2 each of the Corporation in the aggregate, to an eligible employee of the Corporation, under ESOS – 2020,” HDFC said in a BSE filing.

“Each option upon exercise would be entitled to allotment of one equity share of ₹2 each of the Corporation at an exercise price of ₹2,559.90 per equity share,” the company said.

The company said that the stock options have been granted at the market price as defined in SEBI (Share Based Employees Benefits and Sweat Equity) Regulations, 2021.

Accordingly, the options have been granted at ₹2,559.90 per option, being the latest available closing price of the shares of the Corporation on the National Stock Exchange on 24 March 2023 being the trading day immediately prior to the date of the above-mentioned meeting.

“Subject to fulfilling the conditions specified in ESOS-2020, 50 per cent of the options granted shall vest upon completion of 3 years of continuous service with the Corporation and the remaining 50 per cent shall vest on completion of 1 year thereafter,” it said.

The options can be exercised within a period of five years from the respective dates of vesting.


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