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JSW Introduces Across-The-Board Stock Options For Steel & Energy Employees

JSW Introduces Across-The-Board Stock Options For Steel & Energy Employees

JSW group has announced a unique stock option plan worth ₹1,050 crore at the current market value to reward employees with wealth creation opportunities.


The ESOP (employee stock ownership plan) opportunity is being extended to around 15,000 employees across JSW Steel (13,700) and JSW Energy (1,300) for all grades including workmen, junior, middle, top management and business leadership.

 

Dilip Pattanayak, president, human resources, JSW Group, said "Since we are doing a secondary market purchase, there is no dilution to the existing share pattern. So I do not see any concern from our retail shareholders."

 

At the lower end of the spectrum, JSW will be giving 60 per cent of annualised CTC (cost to the company) equivalent as stock options and at the higher end, 20 per cent.

"We have the approval to go ahead with the plans for 1.30 crore shares in JSW Steel and 32 lakh shares in JSW Energy. This corresponds to 0.54% of our paid-up equity in JSW Steel and 0.20% of our paid-up equity in JSW Energy," Pattanayak further stated. 

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