Poonawalla Fincorp share price in green, as company rewards 300,000 stock options to employees at ₹382.63 apiece | Stock Market News
Source: Live Mint
ESOP 2024: Poonawalla Fincorp Limited on September 11 announced the grant of 300,000 stock options under its Employee Stock Option Plan-2024 – Scheme-II (ESOP-2024 – Scheme-II). The Nomination and Remuneration Committee of the Board approved this grant on September 10, 2024, with an exercise price set at ₹382.63 per option.
The options are part of Tranche 13 and will vest according to the schedule outlined in the ESOP-2024 – Scheme-II. This grant adheres to the SEBI (Share Based Employee Benefits & Sweat Equity) Regulations, 2021, as amended.
Poonawalla Fincorp share price was trading in the green, up 0.87 per cent, at ₹395.60, on September 11, at 2:04 pm, on NSE. The company enjoys a market capitalisation of ₹30,747.81 crore, as per NSE. Poonawalla Fincorp stock price had last hit its 52-week high of 519.70519.70 on January 19, 2024.
The company has communicated this development to both the National Stock Exchange of India Limited and BSE Limited, requesting them to take note of the grant.
Poonawalla Fincorp’s buzz
This move followed an earlier announcement on September 3, where Poonawalla Fincorp had revealed the grant of 500,000 stock options under its ESOP 2024, also approved by the Nomination and Remuneration Committee on September 2. These options were issued at ₹390.60 per share.
Poonawalla Fincorp has recently reported strong performance for the first quarter of FY25, with Assets Under Management (AUM) reaching ₹26,972 crore. This represents a 52% increase year-over-year (YoY) and an 8% rise quarter-over-quarter (QoQ). The company’s AUM is well-diversified, with allocations of 35% in MSME finance, 28% in personal and consumer finance, 17% in loans against property, and 14% in pre-owned car finance.
The new grant of stock options aligns with the SEBI (Share Based Employee Benefits & Sweat Equity) Regulations, 2021, ensuring compliance with regulatory standards.
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