Lupin has informed that on August 17, 2012 the company has granted 694250 options to its employees under Lupin Employees Stock Option Plan 2011 at an exercise price of Rs. 556.05.
Further, the company informed that one equity share of Rs. 2 each is covered by each option. The options granted 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 a part of company's filings submitted to BSE.
