We hereby inform that the Bank on January 14, 2020 has approved grant of 3,40,000 Stock Options (convertible into 3,40,000 Equity shares of the Bank, upon exercise) to eligible employees of the Bank in terms of the ESOP Scheme of the Bank.
The main terms of the grant are mentioned below:
1. Grant Price Rs.1,539.65 per share (closing price on NSE on Monday, January 13, 2020, previous day closing price at the Stock Exchange having the highest trading volume).
2. Vesting Period: 3 years from date of vesting spread at 33%, 33% and 34% at the intervals of one year from the date of grant.
3. Exercise Period: 5 years from date of vesting
This disclosure is being made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.