Shyam Metalics and Energy Limited has announced the approval of fresh requests for exercising employee stock options under its “SMEL Employee Stock Incentive Plan – 2023”. The Nomination and Remuneration Committee (NRC) considered and approved the exercise of vested options, leading to the subsequent allotment of equity shares. The company has uploaded this information on its website for public access and record.
Employee Stock Option Exercise Approved
Shyam Metalics and Energy Limited has officially disclosed the approval of fresh requests for exercising employee stock options. This action is a direct consequence of the “SMEL Employee Stock Incentive Plan – 2023.” The company has received and processed these requests from eligible employees, marking a significant step in its employee incentive programs.
Nomination and Remuneration Committee Decision
The Nomination and Remuneration Committee (NRC) of Shyam Metalics and Energy Limited convened and gave its approval for the exercise of vested options. This approval also extends to the consequent allotment of equity shares to the eligible employees who have exercised their options. This decision was formalized during the committee’s meeting held on November 5, 2026.
Scheme Details and Pricing
The options exercised fall under “Scheme I – SMEL Performance ESOP Scheme” (“ESOP I – 2023”). A total of 1,04,500 options were granted to 5 eligible employees. Each option is convertible into one fully paid-up equity share with a face value of ₹10. The options were granted at a discounted price of ₹679.43 per share, representing a 25% discount on the market price as of August 29, 2025.
Vesting and Exercise Period
The granted options are subject to a vesting schedule. The vesting percentages are as follows: 20% on the first anniversary, 23% on the second and third anniversaries, and 34% on the fourth anniversary of the grant date. Options vested with effect from August 29, 2026. The exercise period for the granted options is a maximum of 1 year from the respective vesting date.
Exercised Options and Financials
As of the announcement, 9,000 options have been exercised by 1 eligible employee. The total money realized from this exercise amounts to ₹61,14,870 (Rupees Sixty-One Lakh Fourteen Thousand and Eight Hundred Seventy Only). This means 9,000 shares were issued at a rate of 1 option per 1 share.
Scheme Administration
The ESOP Scheme is administered through an ESOP Trust, which is authorized to acquire shares from the secondary market to facilitate option exercises. The grant of options is based on eligibility criteria determined by the NRC. Importantly, the equity shares allotted upon exercise of these stock options will not be subject to any lock-in period.
The company has also uploaded this information on its official website at www.shyammetalics.com.
Source: BSE
