Jindal Stainless Grants 12.42 Lakh Stock Options To Employees

New Delhi, Dec 31 (PTI) Jindal Stainless Ltd on Tuesday said it has granted 12,42,736 stock options under its Employee Stock Option scheme.

The move aims at rewarding employees for their commitment and performance and attracting and retaining top talent.

The options comprising an equal mix of Employee Stock Options (ESOPs) and Restricted Stock Units (RSUs) are offered at a discounted price to senior employees.

This is in continuation of the grant of stock options by the company in December 2023.

The stock options will vest over a period of four years, along with linkage to performance conditions, Jindal Stainless said in a statement.

"Initiatives like these empower our employees by enabling wealth creation and instilling a sense of ownership, which drives greater engagement, motivation, and loyalty. This, in turn, creates value for all stakeholders, ensures mutual benefits for company and employees, and builds a formidable organisation in the process," Jindal Stainless Chief Human Resource Officer Sushil Baveja said.

Jindal Stainless, the country's leading stainless-steel manufacturer, had a consolidated annual turnover of Rs 38,562 crore in FY24.