On April 7, 2025, ICICI Bank announced that it has given 4,70,764 new shares (each with a face value of ₹2) to its employees. These shares were given under the ICICI Bank Employees Stock Option Scheme – 2000 (ESOP). This decision was officially approved at 3:46 PM by two Executive Directors of the bank. These directors were given the authority to make such decisions by the Board of Directors during a previous meeting held on October 21, 2023.
This allotment of shares is a part of ICICI Bank’s efforts to reward and motivate its employees. The bank uses the ESOP scheme to give employees an opportunity to become part-owners of the bank by offering them company shares. This helps in retaining talented staff and keeping them motivated to contribute to the company’s long-term success.
The bank has informed both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) about this share allotment. This ensures that the process is transparent and follows all rules and regulations required by Indian stock exchanges.
In an official statement, Rinku Maniar, Head of Stakeholders Management & Governance at ICICI Bank, said that this allotment shows the bank’s dedication to appreciating and rewarding employees for their hard work. She also said that when employees own shares in the company, they feel more connected and responsible for its growth and success.
The newly allotted shares will follow the usual lock-in rules, which means employees may need to wait for a certain period before they can sell the shares. Detailed information about how the shares will be distributed and the next steps will be shared with the eligible employees soon.
This move is expected to boost employee morale and help ICICI Bank continue to be seen as a top employer in the banking and finance industry.
