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F72
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, 2009 Year ended March 31, 2008
Particulars Number of
shares
Weighted
average
exercise price
Number of
shares
Weighted
average
exercise price
Outstanding at the beginning of the year ............... 12,684,277 94.61 7,279,964 58.17
Add: Granted during the year ................................. 6,074,000 400.00 7,004,675 130.00
Less: Forfeited/lapsed during the year ................... 1,005,695 244.04 1,464,563 86.02
Less : Exercised during the year1 .......................... 1,143,570 58.72 135,799 59.08
Outstanding at the end of the year ......................... 16,609,012 199.72 12,684,277 94.61
Options exercisable ................................................ 2,920,138 71.27 2,030,765 51.30
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, 2009 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)
30-400 16,609,012 199.72 7
As per the ESOS scheme, FBT of Rs. 114.0 million (March 31, 2008: Rs. 3.2 million) has been recovered from the employees
on 1,143,570 (March 31, 2008: 135,799) stock options exercised during the year ended March 31, 2009.
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, 2009 would
have been higher by Rs. 172.0 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 ............................................................................................... 17.00% – 29.00%
Expected dividend yield ...................................................................................... 0.80% – 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, 2009 Year ended March 31, 2008
Particulars Number of
shares
Weighted
average
exercise price
Number of
shares
Weighted
average
exercise price
Outstanding at the beginning of the year ................ 12,378,256 48.00 7,390,776 37.91
Add: Granted during the year .................................. 5,050,000 200.00 5,625,000 60.00
Less: Forfeited/lapsed during the year .................... 2,246,266 96.69 487,280 37.07
Less: Exercised during the year1 ............................. 783,828 39.20 150,240 36.23
Outstanding at the end of the year .......................... 14,398,162 94.19 12,378,256 48.00
Options exercisable ................................................. 1,250,394 61.86 1,478,820 37.43
1. Excludes options exercised by employees in respect of which equity shares are pending allotment.
forming part of the Consolidated Accounts (Contd.)
schedules