Spencer's to propose ESOP in its first year of standalone ops in coming AGM

Each of the stock option, when exercised, will be converted into one share of the company

After roping in Devendra Chawla, the former chief operating officer of Walmart India as its managing director earlier this year, Spencer’s Retail, in its first year of operations after demerging from CESC Ltd, will be proposing its shareholders to roll out an Employees Stock Option Scheme (ESOP).

A notice to the company’s shareholders state that the maximum number of stock options available for grant under the ESOP scheme will be 39,76,711 which represents 5 per cent equity shares of the company having a face value of Rs. 5. 

However, the notice states that the scheme is applicable “provided that all