IIFL Finance offers Rs 180 cr ESOP to 4,000 employees
- Country:
- India
IIFL Finance on Monday said it will offer ESOP worth Rs 180 crore to 4,000 of its frontline staff.
The company has around 35,000 employees.
This is the largest such Employee Stock Option (ESOP) scheme for frontline employees across industries and the first in the Banking Finance Services and Insurances (BFSI) sector, the company said in a statement.
Frontline employees include call centre executives, gold loan appraisers, branch managers and other zonal sales staff, it said.
The latest ESOP will be offered to employees who have at least two years of experience in the company and meet highest performance ratings, Nirmal Jain, IIFL Founder and Group Managing Director, said.
The company will issue shares to the 4,000 employees at Rs 10 apiece, which will be at a discount of over 98 per cent to the current price of Rs 600.
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