Rolta gives stock options to management staff

Mumbai: Rolta India Ltd, which prides itself as an Indian multinational in knowledge-based software and ITES to customers across the globe, has allotted 911,500 options to 354 employees in the managerial cadre including those with the company''s overseas subsidiaries under its company''s employees'' stock option plan (ESOP).

Rolta''s ESOP enables each option to be exercised into one equity share and the vesting would take place in equal tranches over four years starting from the end of the second year from the date of the grant.

At the time of the vesting, shares will be allotted to the holders of the stock options at Rs 111.35, Rolta''s closing price on BSE on December 31, 2003, which is the date of grant of options.

The allotment of stock options by Rolta is part of its strategy to make it more rewarding for its people stay back and enrich the company''s intellectual capital.

A recent survey by Dataquest / IDC ranked Rolta at the 6^th place among Indian IT companies.

Forbes Global has placed Rolta among the 200 best companies in the world (among companies with sales upto US $ 1 billion) for the third year in a row.