Grasim Industries Ltd has informed that the ESOS Compensation Committee of the Board of Directors of the Company at its meeting held on August 23, 2007 approved grant of 2,22,670 Stock Options to the Employees of the Company, including the Whole Time Directors, under the "Employee Stock Option Scheme 2006" (ESOS-2006), each option being convertible into One Equity Share of the Company upon vesting, at a price of Rs 1,928/- per share.
Subject to the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and the terms of the ESOS 2006, the options will vest in 4 equal annual installments after one year of the grant and shall be exercisable within a period of 5 years from the date of vesting.
Grasim Industries' retail division is in top gear. The Aditya Birla Group textiles major, Grasim, plans to open at least 30 new exclusive brand stores across the country this year.
marketing@alchempro.com
