Kotak Mahindra Bank allots 39,800 shares as ESOPs

The Bank has alloted 39,800 equity shares as stock options to employees of some subsidiaries, in accordance with SEBI Guidelines, 1999, at an exercise price of Rs 200 per share, it informed the Bombay Stock Exchange.

Out of the total, 33 per cent of the options are exercisable between June 1, 2006 and March 1, 2007, a further 33 per cent between June 1, 2007 and March 1, 2008 and the balance 34 per cent between June 1, 2008 and March 1, 2009, it said.