Lupin said that the company has granted 12,000 options to the employees of its subsidiary company, under Lupin subsidiary companies employees stock option Plan 2011 at the exercise price of Rs 1,049.55.
Further the company said that, one equity share of Rs 2 each is covered by each option.
The options issued are exercisable at the market price as defined in the 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.