ICICI Bank 2008 Annual Report Download - page 148

F74
A summary of the status of the stock option plan of ICICI Prudential Life Insurance Company Limited is given below.
Rupees, except number of options
Stock options outstanding
Year ended March 31, 2008 Year ended March 31, 2007
Particulars Number of
options
Weighted
average
exercise price
Number of
options
Weighted
average
exercise price
Outstanding at the beginning of the year ................. 7,279,964 58.17 5,572,600 37.07
Add: Granted during the year ................................... 7,004,675 130.00 4,667,750 70.00
Less: Forfeited/lapsed during the year ..................... 1,464,563 86.02 564,850 48.04
Exercised during the year1 ........................................ 135,799 59.08 2,395,536 34.11
Outstanding at the end of the year ........................... 12,684,277 94.61 7,279,964 58.17
Options exercisable .................................................. 2,030,765 51.30 93,164 34.24
1. Excludes options exercised by employees in respect of which equity shares are pending allotment.
A summary of stock options outstanding as on March 31, 2008 is given below.
Range of exercise price
(Rupees per share)
Number of shares
arising out of options
(Number of shares)
Weighted average
exercise price
(Rupees)
Weighted average
remaining contractual life
(Number of years)
30-130 12,684,277 94.61 7.75
As per the ESOS scheme, FBT of Rs. 3.2 million has been recovered from the employees on 135,799 stock options exercised
during the year ended March 31, 2008.
ICICI Lombard General Insurance Company Limited has granted stock options to employees. If the entity would have
estimated fair value computed on the basis of Black-Scholes pricing model, compensation cost for the year ended
March 31, 2008 would have been higher by Rs. 52.8 million. The key assumptions used to estimate the fair value of options
are given below.
Risk-free interest rate ..................................................................................................... 6.39%-8.17%
Expected life .................................................................................................................. 3-7 years
Expected volatility .......................................................................................................... 17%-20%
Expected dividend yield ................................................................................................. 1.00%-2.85%
A summary of the status of the stock option plan of ICICI Lombard General Insurance Company Limited is given below.
Rupees, except number of options
Stock options outstanding
Year ended March 31, 2008 Year ended March 31, 2007
Particulars Number of
options
Weighted
average
exercise price
Number
of options
Weighted
average
exercise price
Outstanding at the beginning of the year ................... 7,390,776 37.91 4,093,060 35.00
Add: Granted during the year ..................................... 5,625,000 60.00 4,296,500 40.00
Less: Forfeited/lapsed during the year ....................... 487,280 37.07 291,252 35.00
Exercised during the year1 ......................................... 150,240 36.23 707,532 35.00
Outstanding at the end of the year ............................. 12,378,256 48.00 7,390,776 37.91
Options exercisable .................................................... 1,478,820 37.43 304,114 35.00
1. Excludes options exercised by employees in respect of which equity shares are pending allotment.
forming part of the Consolidated Accounts (Contd.)
schedules
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