ICICI Bank Allots Over 5.12 Lakh Shares to Employees Under Stock Option Scheme

Today, ICICI Bank has announced the allotment of 512,856 equity shares to its employees under the ICICI Bank Employees Stock Option Scheme – 2000. The allotment was finalized on May 22, 2025, and each share carries a face value of ₹2.

The approval for the share allotment was granted at 10:02 a.m. by two of the bank’s Executive Directors, who were given the authority to approve such matters during a Board meeting held on October 21, 2023.

This move is part of ICICI Bank’s employee incentive program, which allows eligible employees to acquire ownership in the bank, thereby aligning their interests with the long-term growth and success of the organization.

The announcement was made by Rinku Maniar, Head of Stakeholders Management & Governance at ICICI Bank, through a formal letter sent to both the BSE (Bombay Stock Exchange) and the NSE (National Stock Exchange).

Employee stock option schemes (ESOPs) like this are commonly used by companies to reward performance and retain talent, giving employees an opportunity to become part-owners in the organization.