Jindal Stainless grants ESOPs to 150 employees, HR News, ETHRWorld

New Delhi: Jindal Stainless, a leading stainless steel manufacturer, on Tuesday announced an Employee Stock Option Plan (ESOP) for about 150 of its senior team members.

The company granted 15,68,266 stock options, using the instrument of ESOPs and Restricted Stock Units (RSUs) in an equal mix, to eligible employees under the Jindal Stainless Employee Stock Option Scheme 2023.

The ESOPs will vest over a period of four years, alongside linkage to performance conditions, according to a statement.

The primary objective of introducing ESOPs is to attract, incentivize and retain talent, fostering a shared sense of ownership and aligning the interests of the employees with those of the company.

Abhyuday Jindal, Managing Director, Jindal Stainless, said, “The implementation of ESOPs is a testimony of our intent to retain our people, and make them true partners in our progress. Besides, it helps align the interests of our senior team with our long-term growth plans. By offering employees a stake in our success, we foster a culture of collaboration and shared achievement, ensuring that every individual contributes to, and benefits from, the growth journey of the company.”

Sushil Baveja, CHRO, Jindal Stainless, said, “We are thrilled to introduce ESOPs, offering another opportunity for wealth creation to our key talent. This initiative aims…