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January 28, 2008 19:52 IST
Reliance Industries [Get Quote] said on Monday it has alloted 10.08 lakh share options to eligible employees of the company during the quarter ended December 31.
The options would be convertible into equal number of equity shares and would be vested based on the specified criteria, the Mukesh Ambani group flagship firm informed the Bombay Stock Exchange.
The vesting period would range between one to seven years from the date of the grant and the exercise period would extend up to five years from the date of vesting, RIL added.
Further, the company said that the options not vested in the specified vesting period on account of not meeting the specified criteria or not exercised within the specified exercise period would lapse.
Earlier, the company had granted 27,000 options exercisable into equal number of equity shares to eligible employees during the quarter ended September 30, 2007.
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