condition of the plan. The objectives of ESOP Plan 2021 are to attract, reward, motivate and retain its employees for
high levels of individual performance and for unusual efforts to improve the financial performance of the Company,
which will ultimately contribute to the success of the Company.

The ESOP Plan 2021 have been framed in compliance with the Securities and Exchange Board of India (Share Based
Employee Benefits and Sweat Equity) Regulations, 2021 (“SBEB Regulations 2021”).

As on the date of the Red Herring Prospectus, 9,35,904 employee stock options of face value ~ 2 each have been
granted by our Company. Out of which none of the options have been vested and exercised, 9,35,904 options are
outstanding under the ESOP Plan 2021. The details of the ESOP Plan 2021 are as follows:

 

Particulars Details

 

Options granted Fiscal 2020 Fiscal 2021 From April 1, 2021 till the date of this certificate

 

~ - 935,904

 

‘Cumulative options granted as on December 15, 2021: 935,904

 

 

 

 

 

 

 

 

 

 

 

 

No. of employees to whom options |/ Fiscal 2020 Fiscal 2021 From April 1, 2021 till the date of this certificate
were granted
- - 503
‘Cumulative options granted as on December 15, 2021: 935,904
Options vested (including options | -
that have been exercised)
Options exercised -
Options forfeited/ lapsed/ cancelled | -
Options outstanding (including | 9,35,904
vested and unvested options)
Exercise price of options 232
Total no. of Equity/GCPS Shares that | 9,35,904 equity share of Rs. 2 each
would arise as a result of full exercise
of options granted (net of forfeited/
lapsed/ cancelled options)
Variation in terms of options 876,517 options are vested over the 48 months with following vesting schedule

On completion of 12 months: 10%

On completion of 24 months: 25%

On completion of 36 months: 25%

On completion of 48 months: 40%

40,760 options are vested over the 48 months with following vesting schedule
On completion of 24 months: 50%

On completion of 30 months: 12.5%

On completion of 36 months: 12.5%

On completion of 42 months: 12.5%

On completion of 48 months: 12.5%

18,627 options are vested over the 12 months with following vesting schedule

On completion of 12 months: 100%

 

Money realised by exercise of | NA
options

 

 

 

 

100
