Indusind Bank Grants Options to employees of the Bank

Indusind Bank has, on May 9, 2017, granted Stock Options to certain employees of the Bank.

69,000 Options has been granted to 6 new joinees (as a part of pre-hiring negotiations), representing 69,000 shares of Face Value of Rs.10 each; at a Close Price of Rs.1424.85 in NSE on Monday, May 8, 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.1422.2 as compared to the previous close of Rs. 1431.45. The total number of shares traded during the day was 19087 in over 557 trades.

The stock hit an intraday high of Rs. 1431.5 and intraday low of 1416.85. The net turnover during the day was Rs. 27239645.

Source : Equity Bulls

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