Indiabulls Financial - Grant Of Stock Options To Employees

Indiabulls Financial Services Ltd has informed that the Compensation Committee constituted by the Board of Directors of the Company at its meeting held on January 09, 2007, has granted 25,00,000 Stock Options representing an equal number of equity shares of face value of Rs 2 each in the Company, to the permanent employees of the Company and those of its subsidiary Companies (Eligible Employees), at an exercise price of Rs 272.60, being the closing market price on the National Stock Exchange of India Ltd, as on January 09, 2007.The Stock Options so granted, shall vest in the eligible employees in equal slabs of 20% per year, over a period of 5 years beginning from January 15, 2008, the first vesting date.The options granted under each of the slabs, can be exercised by the grantees within a period of one year from the relevant vesting date.