Lloyds Engineering Works Limited announced the approval of granting a total of 81,99,000 (81.99 Lakh) Stock Options under its Employee Stock Option Plan 2021 on March 31, 2026. These options, granted at an exercise price of ₹9.50 per option, are divided between the Company’s employees and those of its subsidiary, Techno Industries Works Limited. The grants align with established regulatory frameworks and vest over time, subject to specific conditions.
Approval of Employee Stock Options Grant
On Tuesday, March 31, 2026, the Nomination and Remuneration Committee (NRC) of the Board of Directors of Lloyds Engineering Works Limited officially approved the grant of Employee Stock Options (ESOPs) under the “Lloyds Steels Industries Limited Employee Stock Option Plan – 2021”.
Allocation Details for ESOP 2021
The total number of options granted is detailed as follows, with a uniform exercise price of ₹9.50 per option across all allocations:
- Lloyds Engineering Works Limited Employees: 69,71,000 (Sixty-Nine Lakh Seventy-One Thousand only) ESOPs.
- Techno Industries Works Limited (Subsidiary) Employees: 12,29,000 (Twelve Lakh Twenty-Nine Thousand only) ESOPs.
The total number of shares covered by this grant amounts to 81,99,000. The vesting date for these options is set as March 31, 2026.
Key Terms and Conditions
The detailed disclosures highlight several significant terms governing these grants:
For Lloyds Engineering Works Limited Employees (Annexure A)
- Vesting Period: Options shall vest after 1 year but within 7 years from the date of grant, subject to vesting conditions.
- Exercise Window: Options must be exercised within 3 years from the respective Vesting Date.
- Potential Realization: The total money realized if all 69,71,000 options are exercised is estimated at ₹6,62,24,500.
For Techno Industries Works Limited Employees (Annexure B)
- Vesting Period: Options shall vest after 1 year but within 7 years from the date of grant, subject to vesting conditions.
- Exercise Window: Options must be exercised within 3 years from the respective Vesting Date.
- Potential Realization: The total money realized if all 12,29,000 options are exercised is estimated at ₹1,16,75,500.
The company confirmed that the ESOP 2021 Plan previously received in-principal approval from both the BSE Limited and the National Stock Exchange of India Limited. As of the grant date, no options have been exercised, lapsed, or varied.
Source: BSE
