Sammaan Capital Limited, formerly Indiabulls Housing Finance, announced the grant of 23,50,058 Employee Stock Options (ESOPs) to eligible employees on March 30, 2026. The options were distributed under two schemes: the 2013 Indiabulls scheme and the new 2024 Sammaan scheme. The exercise price for all options was set at ₹151/- per share, which was deliberately priced above the preceding day’s closing market price of ₹148.35.
ESOP Grant Approved by Nomination Committee
Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) today, March 30, 2026, disclosed the approval of a significant grant of Employee Stock Options (ESOPs) to its workforce, pursuant to the SEBI Listing Regulations. The Nomination and Remuneration Committee formally approved the allocation during its meeting held on the same day.
Allocation Breakdown and Schemes
A total of 23,50,058 stock options were granted, covering an equal number of equity shares with a face value of ₹2/- each. The options were distributed across two primary employee benefit schemes:
- Indiabulls Housing Finance Limited Employee Stock Benefit Scheme – 2013: Grant of 10,43,798 options, sourced from previously lapsed options.
- Sammaan Capital Limited – Employee Stock Benefit Scheme 2024: Grant of 13,06,260 options, also derived from lapsed entitlements.
Pricing Mechanism and Premium Grant
The Pricing Formula established an exercise price of ₹151/- per option for all grantees. The management confirmed that this price adheres to the regulatory requirement that the exercise price must not be less than the closing market price on the working day immediately before the grant date (March 27, 2026). The closing market price on that date was ₹148.35 per share. By setting the exercise price at ₹151/-, the options were granted at a premium, ensuring the grant does not negatively impact the Company’s profit and loss account.
Vesting and Exercising Details
Regarding the vesting schedule, 50% of the options will vest in two years, commencing from the first vesting date of March 31, 2027. Once vested, the options can be exercised within a period of five years from the respective vesting date. No money was realized upon the grant, and there were no applicable changes, lapses, or dilutions reported at the time of this disclosure.
Source: BSE
