Jindal Steel Grants 6.75 Lakh Stock Options

Jindal Steel Ltd announced the grant of 6,50,056 stock options under the Jindal Steel Employee Benefit Scheme – 2022 (Grant – I) and 24,960 options (Grant – II) to eligible employees. The options are convertible into equity shares at a pricing formula of Face Value + 50% of Market Price. Grant I options vest over 5 years in 20% tranches, exercisable within 5 years from vesting. Grant II options have a one-time vesting a year after the grant, also exercisable within 5 years from vesting. The scheme complies with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.