On March 10, 2026, V.I.P. Industries Limited announced the approval of a new grant of 1,80,000 Employee Stock Appreciation Rights (ESARs) to eligible employees under the 2018 plan. These ESARs will be issued at an exercise price of Rs. 388/- per share. The grant confirms compliance with current benefit regulations and pertains to a maximum pool of 17,06,587 potential shares, with vested options exercisable within five years of vesting.
ESAR Grant Approval Details
V.I.P. Industries Limited has disclosed the approval granted by the Nomination and Remuneration Committee on March 10, 2026, concerning the allocation of Employee Stock Appreciation Rights (ESARs).
The Committee approved the grant of 1,80,000 ESARs to eligible employees of the Company and its subsidiaries, as detailed under the VIP Employees Stock Appreciation Rights Plan 2018.
Key Terms of the Grant
The disclosure provided essential parameters governing this stock-based compensation scheme:
- Total ESARs Granted: 1,80,000 units.
- Scheme Compliance: The scheme confirms compliance with applicable Share Based Employee Benefits regulations.
- Total Share Coverage: The ESARs cover a maximum of 17,06,587 (Seventeen Lakhs Six Thousand Five Hundred Eighty Seven) equity shares across all outstanding grants.
- Pricing Formula: The ESARs are to be issued at a fixed price of Rs. 388/- per share.
- Vesting Status: The document notes that 16,19,000 options from earlier grants are currently vested.
- Exercise Period: Vested ESARs must be exercised within a period of 5 (Five) years from their respective vesting dates.
Regulatory Confirmation
It was confirmed that the ESAR grant is governed by the ESARP 2018/Plan, which has previously received In-Principle approval from the stock exchanges where the Company is listed. The Company requested that this information be recorded and disseminated to investors.
Source: BSE
