Lloyds Engineering Works Limited has announced the grant of 11,55,074 Employee Stock Options (ESOPs) to the employees of its associate company, Lloyds Infrastructure & Construction Limited. The grant was approved by the Nomination and Remuneration Committee (NRC) of the Board of Directors on December 26, 2025, under the ‘Lloyds Steels Industries Limited Employee Stock Option Plan – 2021’. Each ESOP, upon exercise, will result in one equity share of the company. The exercise price for these options is ₹9.50 per option. The options are subject to vesting conditions and will vest within one to seven years from the date of grant. The options must be exercised within three years from their respective vesting dates. If all granted options are exercised, the company would realize ₹1,09,73,203. The announcement also states that the diluted earnings per share pursuant to the issue of equity shares on exercise of options is negligible. The company has obtained 'In Principle' approval from BSE Limited and National Stock Exchange of India Limited for the ESOP plan.