Shyam Metalics and Energy Limited announced the exercise of 57,900 stock options by eligible employees under the SMEL Loyalty ESOP Scheme (ESOP II – 2023). The options were exercised on September 27, 2025, following the completion of the second year from the grant date and as per the vesting schedule. The company has also uploaded the disclosure on its website.
ESOP Exercise Details
A total of 57,900 stock options under the SMEL Loyalty ESOP Scheme (ESOP II – 2023) have been exercised by eligible employees. This exercise occurred on September 27, 2025, in accordance with the scheme’s vesting schedule and following the completion of the second year from the date of grant.
Key Scheme Terms
Originally, 2,16,000 options were granted to 5 eligible employees under the SMEL Employee Stock Incentive Plan – 2023. The options were granted at a price of ₹221 each, which was 50% of the market price on September 27, 2023.
Vesting Schedule
The options vest according to the following schedule:
Date of Vesting
Vesting Percentage
On first anniversary of the grant date
40% of the total Eligible Options shall vest
On second anniversary of the grant date
30% of the total Eligible Options shall vest
On third anniversary of the grant date
30% of the total Eligible Options shall vest
As a result of the exercise of options, 57,900 shares are arising. The money realized by the company from the exercise of these options amounts to ₹1,27,95,900.
Source: BSE
