Jindal Stainless Empowers Workforce with New Stock Options

Jindal Stainless Ltd granted 12,42,736 stock options under its Employee Stock Option scheme to reward and retain top talent. A mix of ESOPs and RSUs was offered at a discounted price to senior employees. The initiative supports wealth creation, engagement, and organizational value.

Jindal Stainless Ltd announced on Tuesday that it had granted 12,42,736 stock options under its Employee Stock Option scheme in a bid to recognize employee commitment and performance.

These options, which include an equal mix of Employee Stock Options (ESOPs) and Restricted Stock Units (RSUs), are being offered at a discounted rate to senior employees as part of the company's ongoing strategy to attract and retain top talent. This follows a similar grant of stock options in December 2023, with the options set to vest over four years, tied to performance metrics.

Sushil Baveja, Chief Human Resource Officer, stated that such initiatives empower employees by enabling wealth creation and instilling a sense of ownership, ultimately benefiting all stakeholders and building a formidable organization. Jindal Stainless, a leading stainless steel manufacturer in India, reported a consolidated turnover of Rs 38,562 crore for FY24.

(With inputs from agencies.)