Mumbai: Kerala-based private sector lender Federal Bank Ltd has offered 2.4 million employee stock options (ESOPS) worth Rs114 crore to 7,851 employees of the bank. An ESOP is a call option granted by a company to its shareholders as part of the remuneration package. These options can be converted into shares at a later stage.
This is the second time Federal Bank is offering the options to employees since 2011. The scheme covers all permanent employees of the bank.