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Indusind Bank Ltd grants 16000 options to employees of the Bank under the Employee Stock Option Scheme 2007

Posted On: 2017-04-20 21:09:03

Indusind Bank Ltd has, on April 19, 2017, granted Stock Options to certain employees of the Bank. The bank has granted 16,000 options to 4 new joinees (as a part of pre-hiring negotiations), representing 16,000 shares of Face Value of Rs.10 each; at a Close Price of Rs.1431.75 in NSE on Tuesday, April 18, 2017.

The aforesaid grant of Options is in accordance with the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 and the ESOP Scheme 2007 of the Bank. The aforesaid Options would vest over a period of 3 years from the date of grant, spread @ 33% - 33% - 34% at intervals of one year from the date of grant.

The Options so granted and vested would have to be exercised within a period of five years from the date of vesting of such Options.

Shares of INDUSIND BANK LTD. was last trading in BSE at Rs.1426.9 as compared to the previous close of Rs. 1422.75. The total number of shares traded during the day was 68862 in over 2446 trades.

The stock hit an intraday high of Rs. 1443.05 and intraday low of 1403.6. The net turnover during the day was Rs. 98324556.

Source: Equity Bulls

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