Jindal Steel Limited announced that its Nomination and Remuneration Committee (NRC) approved the grant of stock options to eligible employees under the Jindal Steel Employee Benefit Scheme – 2022. The approval covers two separate grants: Grant I consisting of 66,340 options and Grant II consisting of 14,355 options. The meeting confirming these grants took place on Friday, February 13, 2026.
Stock Option Grants Approved by NRC
Jindal Steel Limited disclosed today, February 13, 2026, that its Nomination and Remuneration Committee (NRC) formally approved the issuance of stock options to eligible employees and their subsidiaries under the Jindal Steel Employee Benefit Scheme – 2022. The NRC meeting commenced at 10:00 a.m. (IST) and concluded at 12:50 p.m. (IST).
Annexure A Details: Grant I Summary
The initial approval, labeled Grant I, covers a total of 66,340 equity shares. Key terms include:
- Pricing Formula: Face Value plus 50% of Market Price.
- Vesting: A 100% one-time vesting occurring one year after the Grant date.
- Exercise Period: Options must be exercised within a maximum of 5 years from the vesting date.
- Transferability: Shares arising upon exercise shall be freely transferable and not subject to any lock-in, except as required by law.
Annexure A Details: Grant II Summary
The second component, Grant II, involves 14,355 equity shares. The vesting schedule for this grant differs significantly from Grant I:
- Vesting Schedule: Vesting occurs across 5 years in tranches of 20% each.
- Minimum Vesting Period: The options will vest after a minimum vesting period of 1 (One) year.
- Exercise Period: A maximum of 5 years from the date of Vesting.
- Pricing Formula: Identical to Grant I, calculated as Face Value + 50% of Market Price.
General Scheme Administration
For both grants, each stock option is convertible into one (1) equity share of the Company having a face value of Rs. 1/- each. The entire Scheme is administered by the Nomination and Remuneration Committee (NRC) of the Company.
Source: BSE
