Page 2 - Esops

Jindal Stainless announces Employee Stock Option Plan for senior officials

Jindal Stainless Ltd (JSL) on Tuesday announced an Employee Stock Option Plan (ESOP) for senior company officials. The primary objective of introducing ESOPs for 150 senior members is to attract, incentivise and retain talent, fostering a shared sense of ownership and aligning the interests of the employees with those of the organisation, the company said in a statement. JSL has granted 15,68,266 stock options, using the instrument of ESOPs and restricted stock Units (RSUs) in an equal mix, to eligible employees under the JSL Employee Stock Option Scheme 2023. The ESOPs will vest over a period of four years, alongside linkage to performance conditions, it said. "The implementation of ESOPs is a testimony of our intent to retain our people and make them true partners in our progress. Besides, it helps align the interests of our senior team with our long-term growth plans," Jindal Stainless Managing Director Abhyuday Jindal said.

Burmans' misleading information about chairperson far from truth: Religare

Religare Enterprises Ltd (REL) on Thursday launched an attack on Burmans saying recent misleading information shared in the public domain by them is not only far from the truth but can best be described as false claims without evidence. The Burman family on Wednesday called for an investigation into the allotment of an 8 per cent share of Religare Finvest Ltd to Religare Enterprises Chairman Rashmi Saluja through Employee Stock Ownership Plans (ESOPs). Terming the allotment "unfortunate," the Burman family, the largest shareholder of REL, in which it collectively owns 21.24 per cent through its entities, said the process "raises a question mark on the management and the independence of the independent directors" of the diversified financial services firm. In a rebuttal to Burman family allegations, the REL board and the independent directors, in a statement, said, "The recent misleading information shared in the public domain by the Burmans is not only far from the truth but can bes

Investigate Religare Finvest's 8% ESPOs allotment to Saluja: Burman family

Burman family on Wednesday called for an investigation into the allotment of 8 per cent share of Religare Finvest Ltd to Religare Enterprises Chairman Rashmi Saluja through Employee Stock Ownership Plans (ESOPs). Terming the allotment as "unfortunate", the Burman family, the largest shareholder of REL in which it collectively owns 21.24 per cent through its entities, said the process "raises a question mark on the management and the independence of the independent directors" of the diversified financial services firm. The Burman family, the promoter of Dabur India and other entities such as Eveready Industries, had in September announced a Rs 2,116 crore open offer to the shareholders of Religare Enterprises Ltd (REL) to acquire up to 26 per cent stake in the company. "It is unfortunate that a solitary executive has cornered a significant quantum of remuneration through ESOPs at REL, Care Health Insurance Limited, and RFL, all without approval and requisite disclosure to REL ...

Sebi likely to allow non-convertible debentures with lower face value

Further, these issuances will only be interest or dividend-bearing instruments with a simple structure

ESOPs: Boon or bane

Simply put, a stock option is, as the name suggests, an option but not an obligation to an employee to buy shares of his or her company at a predetermined price (exercise price)

Religare board rallies behind chairperson Saluja, defends her share sale

Financial services company rejects Ingovern's allegation of excessive remuneration

InGovern raises red flags over Care Health Esops to REL's Rashmi Saluja

The source said Care Health could, therefore, pass a fresh resolution for the grant of Esops to Saluja without requiring any Irdai approval

Defer your tax liability from ESOPs by extending exercise period

For more favourable tax treatment at sale, hold the acquired shares for more than a year

RGIC takes legal opinion on Hinduja's plan to extinguish ESOPs of RCAP

Hinduja-led IIHL -- the successful bidder for Reliance Capital under insolvency proceedings -- cannot extinguish the employees stock options (ESOPs) and other incentive schemes for the Reliance General Insurance Company (RGIC) employees, a subsidiary of Reliance Capital, according to legal opinion taken by Reliance General Insurance. The legal opinion was necessitated as IIHL in its resolution plan for Reliance Capital has sought to extinguish all employees stock option plans, phantom stocks or similar incentive schemes of Reliance Capital and its subsidiaries, including RGIC, so that no additional cost is incurred after the takeover. Reliance General Insurance has issued ESOPs to its employees. Khaitan & Co in its legal opinion submitted to the RGIC has opined that under IBC, treatment of assets and liabilities of subsidiary companies are not permitted to be prescribed under a resolution plan for the holding company. The IBC recognises the principle of 'separate legal entity', ...

Coforge Q2 results: Net profit declines 10% to Rs 181 cr, revenue up 16%

IT company Coforge on Thursday posted a 10 per cent year-on-year decline in consolidated net profit for the September quarter at Rs 181 crore, partly on account of a one-time increase in ESOP costs. The IT solutions company reaffirmed its 2023-24 revenue growth guidance of 13-16 per cent. Consolidated Profit After Tax (PAT) for the second quarter of the current fiscal was at Rs 181 crore, 10 per cent lower than the year-ago period. However, the PAT for the quarter was 9.5 per cent higher when compared sequentially. The net profit (attributable to owners) was Rs 201.1 crore in the year-ago period. Revenue from operations came in at Rs 2,276.2 crore in the quarter under review, rising over 16 per cent from Rs 1,959.4 crore in the corresponding period of the previous fiscal. The company attributed the 10 per cent year-on-year drop in net profit to a one-time increase in ESOP (employee stock option plan) costs in the quarter. Coforge, in a statement, said it gave all increments on ti

BFSI companies go the whole hog to retain talent, prevent poaching

Companies are providing internal career switch opportunities with promotions, upskilling opportunities, quarterly incentives, and Esops across the ranks to retain talent

Shareholders thwart Kerala-based Federal Bank's ESOP extension plan

Not enough takers for plans to extend schemes for associate firms, subsidiaries

Indian startups give salary hike of 8-12% in FY23, favour ESOPs: Study

Stock offer key component in increments for senior leadership roles, it says

ESOP buybacks among Indian start-ups may resurge as macro headwinds ebb

ESOP buybacks, the primary method of liquidation for employee-owned stocks, usually follow the prevailing funding trend

Zypp Electric allocates Rs 1.5 crore for buyback, first in EV industry

Zypp Electric said the allocation has been made to 15 employees who have been in the company for over a year

Swiggy announces 2nd tranche of ESOP liquidity programme for employees

On-demand convenience platform, Swiggy on Monday announced the second tranche of its committed USD 50 million (nearly Rs 410 crore) ESOP liquidity programme for eligible employees. Swiggy had in 2021 committed to a two-year ESOP liquidity programme for 2022 and 2023 and the first tranche of USD 23 million (over Rs 180 crore) was announced in June last year. In a blogpost, Swiggy said it has initiated "the second tranche of its committed ESOP liquidity program totalling USD 50 million". As part of this planned 2-year ESOP liquidity program, Swiggy said, "Employees will have the option to receive liquidity totalling up to USD 50 million against their ESOPs. This event will also see eligible employees from Dineout which Swiggy acquired last year participate." Over 2,000 employees are eligible, including those who transitioned from Dineout, it added. Swiggy Head of HR Girish Menon said the ESOP programme was announced to enable consistent wealth creation for employees "through two ...

Swiggy announces second tranche of ESOP buyback plan totaling $50 mn

Employees who moved from Dineout after Swiggy bought it last year, will also be eligible for the liquidity programme

Swiggy set to buy back Esops worth $50 million from its 2,000 employees

The Esop liquidation exercise was part of Swiggy's announcement in 2021, where the company had said that its employees would be rewarded for their performance in 2022 and 2023

Flipkart employees to receive cash payout from $700m Esop buyback

Following Phonepe separation, the ecommerce platform is also offering investors and Esops holders the option to reinvest their payout

Rebel Foods offers ESOPs worth Rs 550 cr to kitchen, corporate employees

The firm competes with players such as Curefoods, Biryani By Kilo, Box8, and FreshMenu