Lupin Ltd has informed BSE that the Company has granted 80,000 options to its employees under "Lupin Employees Stock Option Plan 2003" and 75,350 options to the employees of its subsidiary companies under "Lupin Subsidiary Companies Employees Stock Option Plan 2005" to its employees at the exercise price of Rs. 1089.15 on September 22, 2009.
Further, one equity share of Rs. 10/- 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.
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