Key Points of HDFC Equity Shares Allotment Via ESOS:
- HDFC Ltd has allotted 10,000 equity shares worth ₹2 each to eligible employees under the Employee Stock Option Schemes – 2020.
- The shares have been granted at the market price of ₹2,559.90 per option.
- The price was based on the closing price of the Corporation’s shares on the National Stock Exchange on March 24, 2023.
- The options will vest in two phases subject to meeting the conditions specified in ESOS-2020.
- Fifty percent of the options will vest upon completion of three years of continuous service with the Corporation.
- The remaining 50% will vest after one year, and the options can be exercised within a five-year period from the respective dates of vesting.
- HDFC’s shares on the National Stock Exchange were traded at ₹2,554.05 apiece, settling 0.23% lower on the day.
Details of HDFC Equity Shares Allotment Via ESOS:
HDFC, a prominent mortgage lender, announced on Monday that it has allotted 10,000 equity shares worth ₹2 each to eligible employees under the Employee Stock Option Schemes – 2020. In accordance with SEBI (Share Based Employees Benefits and Sweat Equity) Regulations, 2021, the shares have been granted at the market price of ₹2,559.90 per option, based on the closing price of the Corporation’s shares on the National Stock Exchange on March 24, 2023.
The options will vest in two phases, subject to meeting the conditions specified in ESOS-2020. Fifty percent of the options will vest upon completion of three years of continuous service with the Corporation, while the remaining 50% will vest after one year. The options can be exercised within a five-year period from the respective dates of vesting.
“We wish to inform you that Nomination and Remuneration Committee of Directors of the Corporation at its meeting held today i.e. on March 27, 2023 has approved a grant of 10,000 stock options representing 10,000 equity shares of ₹2 each of the Corporation in aggregate, to an eligible employee of the Corporation, under ESOS – 2020,” HDFC stated in a BSE filing.
HDFC’s shares on the National Stock Exchange were traded at ₹2,554.05 apiece, settling 0.23% lower on the day.
About HDFC:
HDFC was amongst the first to receive an ‘in principle’ approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. HDFC Bank is a publicly held banking company, the bank was incorporated in August 1994 in the name of ‘HDFC Bank Limited’, with its registered office in Mumbai, India. It is engaged in providing a range of banking and financial services including retail banking, wholesale banking and treasury operations. It is promoted by HDFC Ltd. which has 19.32% stake as on September 30, 2020. Currently, HDFC Bank Ltd. (HBL) is the largest private sector bank in India.
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