Shyam Metalics and Energy Limited announced the vesting of employee stock options under the “SMEL Employee Stock Incentive Plan – 2023” (ESIP – 2023). As per the vesting schedule, 23% of the options granted on September 25, 2023, are now available for exercise, effective September 25, 2025. A total of 8,59,738 options are affected by this vesting.
ESOP Vesting Details
Shyam Metalics has completed the second year since granting stock options under its SMEL Employee Stock Incentive Plan – 2023 (ESIP – 2023). Consequently, 23% of the stock options granted to employees and subsidiaries on September 25, 2023, are now vested and available for exercise, starting September 25, 2025.
Key Figures and Terms
A total of 8,59,738 equity shares, with a face value of ₹10 each, are covered by these stock options.
The options were granted at ₹326 each, which represents a 25% discount on the market price as of September 25, 2023. This was determined using the closing price on the National Stock Exchange of India Limited from September 22, 2023.
Exercise Window
Grantees can exercise their vested options, either partially or entirely, within a period of 4 years from the vesting commencement date.
ESOP Scheme Administration
The ESOP Scheme is managed through an ESOP Trust authorized to purchase shares from the secondary market. The grant of options depends on eligibility criteria set by the NRC Committee. Vested options allow holders to acquire shares upon payment of the exercise price and taxes, as per the Scheme’s conditions. Allotted equity shares are not subject to a lock-in period.
Vesting Schedule Breakdown
The vesting schedule is as follows:
- On the first anniversary of the grant date: 20% of eligible options vest.
- On the second anniversary of the grant date: 23% of eligible options vest.
- On the third anniversary of the grant date: 23% of eligible options vest.
- On the fourth anniversary of the grant date: 34% of eligible options vest.
As of September 25, 2025, 1,38,598 options have vested.
Source: BSE
