The board of directors of Godrej Consumer (Q, N,C,F)* Products has approved the granting of 6,30,000 options to its eligible employees in terms of Godrej Consumer Products Employee Stock Option Plan (ESOP).

The aforesaid options are granted out of shares acquired by means of subscription or secondary market purchase by an independent trust funded by the company, in terms of the special resolutions passed by the shareholders on March 14, 2007 and April 24, 2008.

The exercise price will be Rs 132.75. The options shall vest in the option grantees on June 05, 2011. Thereafter, the option grantees shall be entitled to exercise the options within a period of 2 years for converting the options granted into equity shares.

Shares of the company closed down Rs 1.85, or 1.4%, at Rs 130.15. The total volume of shares traded at the BSE was 8,862. (Monday)