Greaves Cotton Limited has announced the approval for granting up to 3,05,307 Stock Options under its Employee Stock Option Plan 2024 (ESOP 2024). The decision was formalized by the Nomination and Remuneration Committee on March 13, 2026. The company clarified this disclosure is for transparency and not a material event. Options, if exercised, will result in the issuance of fresh equity shares, with an exercise price not less than the face value of Rs. 2/-.
Employee Stock Option Grant Approved
Greaves Cotton Limited informed the exchanges on 13th March, 2026, regarding the approval of the grant of Employee Stock Options. This action was sanctioned by the Nomination and Remuneration Committee of the Board of Directors.
The total number of options approved for the Greaves Cotton Employee Stock Option Plan 2024 (“ESOP 2024”) stands at upto 3,05,307 (Three Lakh Five Thousand Three Hundred and Seven) options, intended for eligible employees.
Key Terms of ESOP 2024
The grant adheres to the SEBI (Share Based Employee Benefits) Regulations, 2021. The following details summarize the key mechanics of the plan:
- Issuance of Shares: Fresh equity shares will be issued by the Company upon the exercise of Vested Options.
- Exercise Price: The exercise price for each Option will be One fully paid-up equity share of Rs. 2/- each. This price will not be less than Rs. 2/-, which represents the face value of the shares.
- Vesting Period: The granting of options does not imply immediate vesting, as this stage is Not Applicable.
- Exercise Window: Once vested, the option holders have Upto 8 years from the vesting date to exercise their options.
- Equity Ranking: Equity Shares allotted upon exercise will rank pari-passu (equally) in all respects with the existing equity shares of the Company.
- Vesting Lock-in: There shall be a minimum period of one year between the Grant of Stock Options and the actual Vesting of Stock Options.
Disclosure Context
The Company explicitly stated that this grant of options under ESOP 2024 is not considered a material event under the relevant disclosure regulations. The submission is being made solely for the purpose of ensuring shareholder information and transparency.
Further mandatory details concerning the scheme, including information on options lapsed, money realized, and diluted earnings, were reported as Not Applicable at this stage.
Source: BSE
