Lupin said that the company has granted 240,948 options to their employees under 'Lupin Employees Stock Option Plan 2014', at the exercise price of Rs 2 (face value).

Further the company has informed that, one equity share of Rs 2 each is covered by each option. The options shall be vested in a phased manner after a minimum period of 12 months and are exercisable before the exercise period of 10 years from the date of grant.

Shares of the company gained Rs 5.9, or 0.4%, to trade at Rs 1,470. The total volume of shares traded was 64,764 at the BSE (3.09 p.m., Monday).