TIDM60CX

RNS Number : 1245Y

Housing Development Fin. Corp. Ltd.

04 September 2020

Ref. No.: SE/2020-21/151

September 4, 2020

BSE Limited National Stock Exchange of India Limited 

   P. J. Towers                                                                 Exchange Plaza, C-1,

Dalal Street G Block, Bandra Kurla Complex

Mumbai 400 001 Bandra (East), Mumbai 400 051 

   Kind Attn: Sr. General Manager                               Kind Attn: Head - Listing

DCS - Listing Department

Dear Sirs,

Sub: Grant of Stock Options under Employees Stock Option Scheme - 2020 (ESOS - 2020)

In terms of applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable circulars, we wish to inform you that in terms of the approval granted by the Shareholders of the Corporation by way of postal ballot on July 21, 2020, the Nomination and Remuneration Committee of Directors of the Corporation at its meeting held today i.e. on September 4, 2020 approved the grant of 3,83,96,531 stock options representing 3,83,96,531 equity shares of ` 2 each to its eligible employees and working directors under ESOS - 2020.

Details of the grant of stock options are provided herein below: 

 
 a)   Brief details of options     3,83,96,531 stock options granted 
       granted                      to the eligible employees and working 
                                    directors of the Corporation. 
 
                                    Each option upon exercise would be 
                                    entitled for allotment of one equity 
                                    share of ` 2 each of the Corporation 
                                    at an exercise price of ` 1,808.75 
                                    per equity share. 
 b)   Whether the scheme is        Yes 
       in terms of SEBI (Share 
       Based Employees Benefits) 
       Regulations, 2014 
     ---------------------------  --------------------------------------- 
 c)   Total number of shares       3,83,96,531 equity shares of ` 2 each 
       covered by these options     of the Corporation. 
     ---------------------------  --------------------------------------- 
 
 
 d)   Pricing formula            The said stock options have been granted 
                                  at the market price as defined in 
                                  SEBI (Share Based Employees Benefits) 
                                  Regulations, 2014. 
 
                                  Accordingly, the options have been 
                                  granted at ` 1,808.75, being the latest 
                                  available closing price of the shares 
                                  of the Corporation on National Stock 
                                  Exchange of India Limited on Thursday, 
                                  September 3, 2020 being the date immediately 
                                  prior to the date of the abovementioned 
                                  meeting. 
 e)   Options vested             Subject to fulfilling the conditions 
                                  specified in ESOS-2020, 50% of the 
                                  options granted shall vest on the 
                                  completion of 1 year from the date 
                                  of grant or upon completion of 3 years 
                                  of service with the Corporation, whichever 
                                  is later. The remaining 50% shall 
                                  vest on completion of 1 year thereafter. 
     -------------------------  ---------------------------------------------- 
 f)   Time within which option   The options vested will have to be 
       may be exercised           exercised within 5 years from the 
                                  date of respective vesting. 
     -------------------------  ----------------------------------------------

We request you to kindly take note of the same.

Thanking you,

Yours faithfully,

For Housing Development Finance Corporation Ltd.

Ajay Agarwal

Company Secretary

Cc: London Stock Exchange,

10, Paternoster Square,

London, EC4M7LS

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END

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