Indiabulls Financial Services (Delisted) share news and announcements

BSE: 532544

Last traded ₹271.80 on 18 Mar 2013

Delisted on 17 May 2013.

Indiabulls Financial Services share news and announcements

492 announcements, routine notices left out, newest first. Page 10 of 10.

  1. Oct 2007

    • 12 Oct · Board meeting

      To consider and approve inter alia the Unaudited financial results of the Company for the quarter ended September 30, 2007 and to consider declaration of an interim dividend (if any), on the Equity shares of the Company, for the financial year 2007-2008. It may be noted that in the event of an interim dividend being declared at the Board meeting as aforesaid, the record date for the purpose of determining the names of the Equity shareholders eligible for the receipt of such dividend, will be notified subsequently.

  2. Sep 2007

    • 17 Sep · Meeting

      Shareholders of the Company have unanimously accorded their approval to the following at the Annual General Meeting of the Company held on September 17, 2007 : 1) Declaration of Final Dividend of Rs. 1/- per equity share (50% on the face value of Rs. 2 per equity share. 2) Re-appointment of Mr. Gagan Banga as a Director of the Company, liable to retire by rotation. 3) Re-appointment of Mr. Karan Singh as a Director of Company, Liable to retire by rotation. 4) Re-appointment of M/s Deloitte Haskins & Sells, Chartered Accountants, as Statutory Auditors of the Company till the conclusion of the next Annual General Meeting of the Company. 5) Appointment of Mr. Prem Prakash Mirdha as a Director of Company, liable to retire by rotation.

    • 17 Sep · Outcome of Court Convened Meeting

      As per the directions of the Hon'ble High Court of Delhi at New Delhi, a court convened meeting of the Equity Shareholders of the Company was held on September 17, 2007 to consider the proposed Scheme of Arrangement between Indiabulls Credit Services Limited, Indiabulls Financial Services Limited and Indiabulls Securities Limited and their respective shareholders and creditors as per notice dated August 13, 2007. The said Scheme of Arrangement has been unanimously approved by the Equity shareholders of the Company, and is now subject to the final approval of the Hon'ble High Court of Delhi at New Delhi

    • 5 Sep · Rating

      The Rating Committee of CRISIL has assigned the highest rating of "P1+" (pronounced 'P one plus') to the Rs. 1000 crore Short Term Debt Programme of the Company (enhanced from Rs.750 crore)

  3. Aug 2007

    • 24 Aug · Meeting

      Board of Directors of the Company at its meeting held on August 24, 2007, has decided to convene the AGM of the shareholders of the Company on September 17, 2007. Further, for the purpose of the said Annual General Meeting, and to determine the names of the members eligible for payment of final dividend, if declared, the Register of Members and Share Transfer Books of the Company shall remain closed during the period September 10, 2007 to September 17, 2007 (both days inclusive). The dividend payout will start on or after October 10, 2007.

    • 22 Aug · Rating

      The CRISIL has assigned the highest broker grading "CRISIL BQ 1" to Indiabulls Securities Ltd., a 100% subsidiary of Indiabulls Financial Services Ltd. (IBFSL) As has already been intimated earlier, CRISIL has assigned the highest rating of "P1 +" (pronounced as "P one Plus") for unsecured short term borrowing programme of Rs. 7.50 billion of IBFSL. CRISIL has also assigned its highest rating "AAA (SO)" for Pass through Certificates, in relation to loan receivables of Indiabulls Credit Services Ltd. (ICSL), and credit Opinions equivalent to a rating of "AAA (SO)" in relation to assignment of loan receivables programmes of ICSL, the consumer finance company and a subsidiary, of IBFSL.

    • 22 Aug · Notice of Meeting

      By an order made on the July 31, 2007 the Hon'ble High Court of Delhi has directed that a meeting of the equity Shareholders of the Applicant company No.2 (India Bulls Financial Services Limited ) be held on September 17, 2007 for the purpose of considering, and if through fit, approving with or without modification(s) the proposed Scheme of arrangement between Indiabulls Credit Services Limited, Indiabulls Financial Services Limited and Indiabulls Securities Limited and their respective shareholders and Creditors. The copy of the notice of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

  4. Jul 2007

    • 24 Jul · Miscellaneous

      Earnings Update for the quarter ended June 30, 2007 titled as "Indiabulls Financial Services Limited Earnings Update - Q1 FY08 Unaudited Results July 24, 2007". The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 24 Jul · Results

      Standalone Results for the quarter ended on 30-JUN-2007 as follows: Net Sales of Rs. 11365 lacs for quarter ending on 30-JUN-2007 against Rs. 5890 lacs for the quarter ending on 30-JUN-2006. Net Profit / (Loss) of Rs. 5182 lacs for the quarter ending on 30-JUN-2007 against Rs. 1769 lacs for the quarter ending on 30-JUN-2006.

    • 24 Jul · Results

      Consolidated Results for the quarter ended on 30-JUN-2007 as follows: Net Sales of Rs. 44271 lacs for quarter ending on 30-JUN-2007 against Rs. 22023 lacs for the quarter ending on 30-JUN-2006. Net Profit / (Loss) of Rs. 16636 lacs for the quarter ending on 30-JUN-2007 against Rs. 7662 lacs for the quarter ending on 30-JUN-2006.

    • 16 Jul · Board meeting

      To consider and take on record, inter alia, unaudited financial results of the Company for the quarter ended June 30, 2007, and to consider an interim dividend, if any, for the Financial Year 2007-08.

    • 11 Jul · Disclosure

      Smallcap World Fund Inc., has informed the Company regarding their disposition of equity shares of Indiabulls Financial Services Limited (IBFSL). The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

  5. Jun 2007

    • 20 Jun · Legal

      With respect to SEBI order dated June 18, 2007 on dealing in futures and options contracts on NSE, some reports in press media suggest that Indiabulls Securities Ltd has been involved in fake trading / fixing of F&O prices. We wish to clarify that Indiabulls Securities Ltd or any of its group companies have not been involved in any fake trading or price fixing in F&O segment and have not traded directly or indirectly on its own account in the 23 trades on the F&O segments as mentioned in the SEBI order. Out of the mentioned 23 trades, 17 trades were done by clients through the Internet trading, Indiabulls Securities Ltd is in the process of issuing notices and taking further strict measures against the clients who have executed these questionable 23 trades which have resulted into a close out difference of approx Rs. 35 lacs

    • 15 Jun · Disclosure

      Goldman Sachs Investments (Mauritius) I Limited ("GSIMI") has informed the Company regarding their disposition of equity shares of Indiabulls Financial Services Limited (IBFSL). The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

  6. May 2007

    • 18 May · GDRs

      Indiabulls Financial Services Limited had informed the Exchange regarding allotment of 21,056,661 equity shares of par value Rs.2 per share, underlying equivalent number of GDRs, each GDR representing 1 equity shares, priced at US$ 13.06 and aggregating US$ 275 million. The company has now informed the Exchange that: "The Board of Directors of the Company has, at its meeting held today, May 17, 2007, pursuant to over-allotment option exercised by Merrill Lynch International, allotted 1,914,242 (One million nine hundred fourteen thousand two hundred forty two) equity shares of par value Rs.2 per share, as underlying shares representing 1,914,242 (One million nine hundred fourteen thousand two hundred forty two) GDRs, each GDR representing 1 equity shares, priced at US$ 13.06 and aggregating US$ 25 million. With the exercise of the said over-allotment option, the total number of equity shares underlying GDRs allotted in terms of the Offering Circular dated May 09, 2007 is now 22,970,903 (Twenty two million nine hundred seventy thousand nine hundred three) priced at US$ 13.06 per GDR and aggregating US$ 300 million, thus concluding the aforesaid GDR offering of the Company".

    • 16 May · GDRs

      The Board of Directors of the Company in its meeting held today i.e. 15th May, 2007 have allotted 21,056,661 (Twenty One Million Fifty Six Thousand Six Hundred Sixty One) Equity Shares of par value Rs.2 per share ,as underlying shares representing 21,056,661 (Twenty One Million Fifty Six Thousand Six Hundred Sixty One) Global Depository Receipts (GDRs), each GDR representing 1 equity share and priced at US$ 13.06

    • 10 May · GDRs

      Indiabulls priced its US$ 275 million GDR offering on the Luxembourg Stock Exchange at US$ 13.06 per GDR. Each GDR represents one equity share of the Company of nominal value Rs. 2 each. The book closed on May 9, 2007 and the issue was priced after market hours on May 9, 2007. Goldman Sachs International and Merill Lynch International are acting as the Joint Lead Mangers and the Joint Lead Bookrunners for the offering. Indiabulls has also granted an over-allotment option of up to US$ 25 million, to Merill Lynch International.

  7. Apr 2007

    • 25 Apr · Meeting

      Minutes of the Extra Ordinary General Meeting held on March 30, 2007. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 24 Apr · Allotment of shares

      Upon exercise of the option for conversion of 50,00,000 Series II warrants (out of 1,00,00,000 Series II Warrants) by the Promoters and receipt of exercise amounts aggregating Rs.60,69,00,000 (Rupees Sixty Crores and Sixty Nine Lacs only) (total subscription money less 10% upfront amount paid at the time of allotment of warrants), the Board of Directors of the Company at its meeting held today i.e. April 23, 2007, has allotted an aggregate of 50,00,000 (Fifty Lacs) Equity Shares of face value Rs.2 each at a conversion price of Rs.134.87 per Equity Share to the Promoters of the Company. It may be noted that the said warrants had been allotted to the Promoters by the Board of the Company on June 08, 2006, pursuant to a Special Resolution passed by the Shareholders of the Company under Section 81 (1A) of the Companies Act, 1956 at an Extraordinary General Meeting of the Company held on May 26, 2006. It may further be noted that pursuant to the Scheme of Arrangement of Demerger between the Company and Indiabulls Real Estate Limited (IBREL) approved by the Hon'ble High Court of Delhi, New Delhi, by its order dated November 24, 2006, the exercise price of Rs. 250/- that was payable against each Warrant stood proportionately allocated, as between the Company and IBREL, at Rs. 134.87 and Rs. 115.13 per Equity Share. Consequent to the above allotment, the paid-up equity capital of the Company stands increased from Rs.38,95,50,756 divided into 19,47,75,378 equity shares of face value Rs.2/- each to Rs.39,95,50,756 divided into 19,97,75,378 equity shares of face value Rs.2/- each

    • 24 Apr · Raising of Equity Capital

      Indiabulls Financial Services Limited ("IBFSL") is contemplating raising additional equity capital or securities linked to equity shares through issuance of Global Depository Receipts pursuant to authorisation received from its shareholders. In connection with the above proposed equity capital raising the Company has appointed Goldman Sachs and Merrill Lynch

    • 16 Apr · Miscellaneous

      Earning update for the quarter and year ended March 31, 2007. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 16 Apr · Board meeting

      The Board of Directors of the Company at its meeting held today, April 16, 2007 has approved the audited financial results of the Company for the year ended March 31, 2007. We further inform that the Board of Directors has recommended a final dividend of Rs. 1 per share (50% on the face value of Rs. 2 per share) for the financial year 2006-07 subject to the approval of the Shareholders of the Company at the ensuing Annual General Meeting of the Company.

    • 12 Apr · Issue and allotment of shares

      Oberon Limited has decided to convert the 1,15,00,000 Convertible Preference Shares issued by the Company to Oberon Limited pursuant to the share subscription agreement dated June 18, 2006 (the "Agreement") into as many as Equity Shares of face value Rs. 2 each in the Company and have provided a conversion notice stating such intention to convert, under the terms of the Agreement. Pursuant to the exercise of option by Oberon Limited as aforesaid, the Board of Directors of the Company have; at their meeting held on 10.04.2007 allotted an aggregate of 11,500,000 (Eleven Million and Five hundred thousand) Equity Shares of face value of Rs. 2 each in the Company, at a conversion price of Rs. 162 per Equity Share. With the issue of 1,15,00,000 equity shares as aforesaid to Oberon Limited, the paid up equity capital of the Company stands increased from the previous Rs. 36,65,50,756/- divided into 18,32,75,378 equity shares of face value of Rs. 2 each to Rs. 38,95,50,756 divided into 19,47,75,378 equity shares of face value Rs. 2 each. It may be noted that the Convertible Preference Shares were allotted to Oberon Limited by the Board of the Company on 2nd August, 2006, pursuant to the approval of shareholders of the Company under Section 81 (1A) of the Companies Act, 1956 by way of postal ballot dated July 20th, 2006

    • 9 Apr · Board meeting

      To consider inter-alia the Audited Financial Results of the Company for the Financial Year ended March 31, 2007, and to consider recommendation of final dividend, if any for the said financial year.

    • 2 Apr · Allotment of shares

      The Board of Directors of the Company at its meeting held today i.e. March 30, 2007 has allotted: (a) 12,00,000 Equity Shares of Rs 2 each to certain employees; and (b) 24,00,000 Equity Shares of Rs.2 each to ' IBFSL Employees Trust' which has been nominated by such employees to receive and hold such equity shares, for their benefit. Such allotments were pursuant to exercise of the right to accelerated vesting of stock options under the Employee Stock Option Plan 2004 by the aforesaid employees of the Company

  8. Mar 2007

    • 30 Mar · Meeting

      The requisite majority of the shareholders of the Company have accorded their approval to the following at the EGM of the Company held on March 30, 2007: (1) Amendments to the Indiabulls Employees Stock Option Scheme dated February 28, 2004 of the Company. (2) Amendments to the Indiabulls Employees Stock Option Plan -2005 dated July 26, 2005 of the Company

    • 23 Mar · Miscellaneous

      The Rating Committee of CRISIL has assigned the highest rating of "P1+" (pronounced 'P one plus') to the Rs. 750 crore Short Term Debt Programme of the Company (enhanced from Rs. 500 crore)

    • 6 Mar · Meeting

      Notice convening an Extraordinary General Meeting of the Company on March 30, 2007. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 6 Mar · Meeting

      A meeting of the Board of Directors of Indiabulls Financial Services Limited (the "Company") was convened today, March 6, 2007, whereby , subject to the approval of the shareholders as prescribed under the SEBI ( Employee Stock Option Scheme and Employees Stock Purchase Scheme) Guidelines, 1999, the Board authorized certain amendments to the terms of the Indiabulls Employees Stock Option Scheme dated February 28 2004 and the Indiabulls Employees Stock Option Plan-2005 dated July 26, 2005 and convened an extraordinary general meeting on March 30, 2007 in order to receive shareholder approval for such amendments

  9. Feb 2007

    • 15 Feb · Business

      Scheme of arrangement as finalised will be separately filed with the Stock Exchanges as per the provisions of the clause 24 of the Listing Agreement. Separately the Board noted the proposal for the acquisition of equity shares of Indiabulls Housing Finance Limited ("IHFL") held by minority investors to make IHFL a 100% subsidiary of the Company. The board has authorized a special committee to negotiate and finalize the terms and conditions on which the Company could acquire the equity shares of IHFL".

    • 15 Feb · Business

      "a meeting of the Board of Directors of Indiabulls Financial Services Limited (the "Company") was held today (i.e February 15, 2007), at which the proposal to restructure the business of the Company was considered and approved. This proposal is sought to be implemented in terms of a composite scheme of arrangement under the provisions of Sections 391-394 of the Companies Act, 1956 which will provide for: (i) the amalgamation of Indiabulls Credit Services Limited ("ICSL') with the Company in consideration for which the Company will issue shares to the shareholders of ICSL. (ii) the demerger of the securities broking and advisory business of the Company as a going concern to Indiabulls Securities Limited ("ISL") in consideration for which ISL will issue shares and global depository receipts ('GDRs") to the shareholders and GDR holders, respectively, of the Company. The Board of Directors of the Company also approved the share exchange ratio in relation to the Amalgamation of 3 equity shares in the Company of Rs. 2 each credited as fully paid-up for every 10 equity shares of Rs. 10 each credited as fully paid-up held by such member in ICSL and the share entitlement ratio in relation to the Demerger of 1 equity share in ISL of Rs. 2 each credited as fully paid-up for every 1 equity share of Rs. 2 each credited as fully paid-up held by such member in the Company on the basis of recommendation made by the independent valuers, being M/s. Price Waterhouse Coopers Pvt. Ltd., and M/s. Dalal & Shah. Chartered Accountants. The above proposals are subject to the satisfaction of various conditions, including obtaining necessary approvals from the shareholders and regulatory authorities including those of the Stock Exchanges under the Listing Agreement, creditors and sanction of the scheme of arrangement in terms thereof by the High Court of Delhi.

    • 13 Feb · Board meeting

      To consider a composite scheme of arrangement under Section 391-394 of the Companies Act 1956, involving the amalgamation of Indiabulls Credit Services Limited with the Company and the demerger of the securities trading and advisory business undertaking of the Company to Indiabulls Securities Limited. The Board will also consider the reports of the independent valuers, PriceWaterhouseCoopers and Dalal & Shah, who have been appointed to recommend the share exchange ratio and the share entitlement ratio for the amalgamation and demerger respectively.

    • 5 Feb · Restructuring of business

      A meeting of the Board of Directors of Indiabulls Financial Services Limited (the Company) was held today (i.e. February 4, 2007), at which the proposal to restructure/re-organize the business of the Company and its subsidiaries was discussed. It is proposed to consider alternatives for restructuring the Company including amalgamation of the entire business and undertaking of Indiabulls Credit Services Limited with the Company.Additionally, the Company will consider the transfer by way of a demerger of the undertakings, business, activities and operations of the Company pertaining to provision of broker dealer services, in particular Indiabulls Securities Limited, on a going concern basis, and seek permission to list the resulting entity. Separately the Board noted the proposal for the acquisition of equity shares of Indiabulls Housing Finance Limited ( IHFL), held by certain minority investors. The Board has authorized certain persons to negotiate and finalize the terms and conditions on which the Company shall acquire the equity shares of IHFL. The company expects that the restructuring initiatives would unlock significant value and also streamline the operations and ownership structure of the Company. The board has appointed certain advisers and has authorized a committee to prepare and present a draft proposal and related documents for the restructuring of the company to be placed before and approved by the Board at a later date. Further announcements will be made in due course when the appropriate decisions are made. The board will make its final decision in due course regarding the restructuring exercise upon receiving the recommendations of the authorized committee and obtaining the required professional advice.

  10. Jan 2007

    • 31 Jan · Corporate action

      February 15, 2007 has been fixed as the Record Date for the purpose of determining the names of members eligible for payment of the interim dividend. The dividend payout will start on or after Februrary 26, 2007

    • 31 Jan · Miscellaneous

      Earnings Update Q3 FY07 and Nine months ended December 31, 2006. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 31 Jan · Dividend

      The Board of Director has declared first interim dividend of Rs. 2 per equity share (100% on the face value of Rs. 2 per equity share) for the financial year 2006-2007

    • 29 Jan · Subscription of shares

      Indiabulls Real Estate Limited ("IREL" or the "Company"), is proposing to enter into arrangements with Dev Property Development Plc., a company incorporated in the Isle of Man ("Dev"), whereby Dev shall subscribe to new shares and also acquire a minority shareholding from the Company, in the following project companies: a) Indiabulls Properties Private Limited ("IPPL") - which is developing Jupiter Mills; b) Indiabulls Real Estate Company Private Limited (IRECPL") - which is developing Elphinstone Mills; and c) Indiabulls Infrastructure Development Limited ("IIDL") - which is developing the Raigad SEZ. The Company has now informed the Exchange that "the Company has entered into share purchase and subscription agreements as well as shareholders' agreements in relation to the above and Dev will acquire a manority shareholding in the project companies as mentioned above upon completion of all closing conditions. As part of the series of transactions, upon completion IREL will receive a total consideration of Rs. 437.4 crore for sale of partial stake in IPPL and IRECPL. Additionally, IPPL, IRECPL, and IIDL will receive a total of Rs. 617.9 crore as fresh equity capital from subsidiaries of Dev. Further, Dev has completed an initial public offering of its Ordinary shares for a total amount of Rs. 1200 crore (GBP 138 million) and shall be listed on the Alternative Investment Market of the London Stock Exchange Plc. The transaction is expected to close during the course of next week

    • 24 Jan · Board meeting

      To consider and take on record, inter alia, unaudited financial results of the Company for the quarter ended December 31, 2006, and to consider interim dividend, if any, for the Financial Year 2006 - 2007.

    • 15 Jan · Allotment of shares

      Upon exercise of the option for conversion of warrants by the promoters and receipt of exercise amount aggregating Rs. 81,18,00,000 (Indian Rupees Eighty One crores Eighteen Lacs only) (total subscription money less 10% upfront amount paid at the time of allotment of warrants), the Board of Directors of IBFSL (Indiabulls Financial Services Limited) at its meeting held today i.e. January 13, 2007, has allotted an aggregate of 1,10,00,000 (One crore ten lac) Equity Shares of face value Rs. 2 each at a conversion price of Rs. 82 per Equity Share to the Promoters of IBFSL. The Company further informs that upon exercise of the option for conversion of warrants by the promoters of IBREL (Indiabulls Real Estate Limited) and receipt of exercise amount aggregating Rs. 69,30,00,000 (Indian Rupees Sixty Nine Crores Thirty Lacs only) (total subscription money less 10% upfront amount paid at the time of allotment of warrants), the Board of Directors of IBREL at its meeting held today i.e. January 13, 2007, has allotted an aggregate of 1,10,00,000 (One crore ten lac) Equity Shares of face value Rs. 2 each at a conversion price of Rs. 70 per Equity Share to the promoters of the Company. Further, the warrants were allotted to the promoters by the Board of IBFSL on August 9, 2005, pursuant to the approval of shareholders of the Company under Section 81 (1A) of the Companies Act, 1956 by way of a Special Resolution passed at the Annual General Meeting of the Company held on July 26, 2005. Further, pursuant to the Scheme of Arrangement of Demerger between IBFSL and IBREL approved by the Hon'ble High Court of Delhi at New Delhi, the promoters were entitled to an equivalent number of warrants in IBREL.

    • 15 Jan · Allotment of shares

      Consequent to the above allotment, the Paid-up Equity Share Capital of IBFSL stands increased from Rs. 33,73,50,756 divided into 16,86,75,378 Equity Shares of face value Rs. 2 each to Rs. 35,93,50,756 divided into 17,96,75,378 Equity Shares of face value Rs. 2 each.

    • 10 Jan · Miscellaneous

      Indiabulls Real Estate Limited ("the Company") is proposing to enter into arrangements with Dev Property Development Plc., a company incorporated in the Isle of Man ("Dev"), whereby Dev shall subscribe to new shares and also acquire a minority shareholding from the Company, in the following project companies: a) Indiabulls Properties Private Limited - which is developing Jupiter Mills; b) Indiabulls Real Estate Company Private Limited - which is developing Elphinstone Mills; and c) Indiabulls Infrastructure Development Limited - which is developing the Raigad SEZ. It is expected that application will be made to list the Dev shares on the London Stock Exchange's AIM market. The details of the developments in this transaction shall be communicated to the exchange from time to time

    • 10 Jan · Grant of Stock Options

      The Compensation Committee constituted by the Board of Directors of the Company has at its meeting held today i.e. January 9, 2007, granted 25,00,000 (Twenty five lacs) Stock Options representing an equal number of equity shares of face value of Rs. 2 each in the Company, to the permanent employees of the Company and those of its subsidiary companies (Eligible Employees), at an exercise price of Rs. 272.60, being the closing market price on the National Stock Exchange of India Ltd., as on January 9, 2007. The Stock Options so granted, shall vest in the eligible employees in equal slabs of 20% per year, over a period of 5 years beginning from January 15, 2008, the first vesting date. The options granted under each of the slabs, can be exercised by the grantees within a period of one year from the relevant vesting date.