NEW DELHI (India CSR): Jindal Stainless Limited, India’s largest stainless steel manufacturer, granted 12,42,736 stock options on a discounted price through Employee stock options (ESOPs) and Restricted Stock Unit (RSUs) in an equal mix to the senior employees under its Employee Stock Option Scheme. This is in continuation of the grant of stock options by the Company in December last year. The stock options will vest over four years, along with linkage to performance conditions.
Founded in 1970, Jindal Stainless continues to be inspired by a vision for innovation and enriching lives and is committed to social responsibility.
India’s leading stainless-steel manufacturer, Jindal Stainless, had a consolidated annual turnover of INR 38,562 crore (USD 4.7 billion) in FY24 and is ramping up its facilities to reach 4.2 million tonnes of annual melt capacity in FY27.
Commenting on this development, the Chief Human Resource Officer, of Jindal Stainless, Sushil Baveja, said, “At Jindal Stainless, we are deeply committed to strengthening employee growth and creating opportunities for shared success. Initiatives like these empower our employees by enabling wealth creation and instilling a sense of ownership, which drives greater engagement, motivation, and loyalty. This, in turn, creates value for all stakeholders, ensures mutual benefits for company and employees, and builds a formidable organisation in the process.”
The initiative is aimed at rewarding employees for their commitment and performance. It has been introduced to also attract and retain top talent while cultivating a shared sense of ownership.
Jindal Stainless 16 stainless steel manufacturing and processing facilities in India and abroad, including in Spain and Indonesia, and a worldwide network in 12 countries, as of March 2024. In India, there are ten sales offices and six service centres, as of March 2024. The company’s product range includes stainless steel slabs, blooms, coils, plates, sheets, precision strips, wire rods, rebars, blade steel, and coin blanks.
(India CSR)
