<h1>Ravindra Energy Grants 3,10,000 Employee Stock Options under ESOP Scheme</h1>
Ravindra Energy Ltd has approved the grant of balance/ungranted Employee Stock Options (ESOPs) to its eligible employees. The move comes from a meeting held by the Nomination and Remuneration Committee, which finalized the allocation as part of the Ravindra Energy Employees Stock Option Scheme 2022 (REL ESOP Scheme 2022).
The committee approved the grant of 3,10,000 Employee Stock Options (Grant-II) to employees. This grant is from a total limit of 13,67,301 options previously approved by shareholders under the REL ESOP Scheme 2022. The ESSOs are governed by the REL ESOP Scheme 2022, which was submitted with regulatory bodies and had In-Principle approval secured from both stock exchanges on December 24, 2024.
The purpose of the ESOP grant is to reward employees for their contributions to the company's success and provide an incentive for continued dedication. The company stated that it strongly believes an equity component in compensation aligns individual objectives with organizational goals as the firm unfolds its growth plans through new projects and expansion opportunities. The Nomination and Remuneration Committee (NRC) will administer the REL ESOP Grant-II.
Details regarding the granted options, pricing, and vesting structure are summarized below:
| Particulars | Details |
|---|---|
| Total Options Granted | 3,10,000 (Three Lakh Ten Thousand) |
| Scheme Name | Ravindra Energy Employees Stock Option Scheme 2022 |
| Exercise Price per Share | Rs. 101/- |
| Face Value of Shares | Rs. 10/- each |
| Vesting Schedule | 25% upon the First Anniversary from Grant Date; Remaining 75% on the Second Anniversary. |
| Option Exercise Period | 10 years from the Vesting Date |
The options granted are set to be converted into equity shares, which will rank equally with existing equity shares of Ravindra Energy Limited upon allotment.
RELTD Stock Price Movement
Shares of Ravindra Energy Limited slipped on Friday, shedding 2.80% from the previous close to settle at ₹174.12. The equity traded within a range of ₹173 to ₹179.70 during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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