Lupin has informed that the company has granted 6500 options to the employees of its subsidiary companies, under Lupin Subsidiary Companies Employees Stock option plan 2011 at the exercise price of Rs. 433.25 on January 18, 2012. Further the company has informed that, one equity share of Rs. 2 each is covered by each option. The options issued are exercisable at the 'market price' as defined in SEBI guidelines, in a phased manner after a minimum vesting period of 12 months but before the exercise period of 10 years from the date of grant.
The above information is part of the company’s filing submitted to the BSE.
