ESOP 2024: On September 11, Poonawalla Fincorp Limited announced the issuance of 300,000 stock options under its Employee Stock Option Plan-2024 - Scheme-II. The Nomination and Remuneration Committee of the Board authorized this award on September 10, 2024, with an exercise price of ₹382.63 per option.
The options are part of Tranche 13 and will vest on the timeline indicated in the ESOP-2024 - Scheme-II. This award complies with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, as modified.
On September 11, at 2:04 pm, Poonawalla Fincorp's share price rose 0.87 percent to ₹395.60 on the NSE. The firm has a market capitalization of ₹30,747.81 crore, according to NSE. Poonawalla Fincorp's stock price last reached a 52-week high of 519.70519.70 on January 19, 2024. The business has reported this news to both the National Stock Exchange of India Limited and the BSE Limited, asking them to take notice of the grant.
Poonawalla Fincorp's Buzz
This decision follows an earlier statement on September 3, when Poonawalla Fincorp announced the award of 500,000 stock options under the ESOP 2024, which was also authorized by the Nomination and Remuneration Committee on September 2. The options were issued at ₹390.60 per share.
Poonawalla Fincorp recorded outstanding success in the first quarter of FY25, with AUM hitting ₹26,972 crore. This is a 52% increase year on year (YoY) and an 8% increase quarter on quarter (QoQ). The company's assets under management are well-diversified, with 35% allocated to MSME credit, 28% to personal and consumer finance, 17% to property loans, and 14% to pre-owned auto finance.
The new award of stock options is consistent with the SEBI (Share Based Employee Benefits & Sweat Equity) Regulations, 2021, ensuring regulatory compliance.
