Under the programme, each stock option is convertible into 1 equity share having a face value of Rs2 each. Also, Rs50 per option is levied upon exercise of the stock option.
The company's 3,00,000 stock options under “Minda Corporation Employee Stock Option Scheme 2017” will vest as under:
- 1,00,000 options from October 13, 2021 to October 12, 2025
- 2,00,000 options from January 04, 2022 to December 31, 2026
On Sensex, Minda stock ended at Rs68.55, down by Rs0.45 or 0.65% from its previous closing of Rs69 on the BSE.