159 | Annual Report | 2023-2024 Note 26: Employee stock option scheme (‘ESOP Scheme’) (Cont'd) (vi) Following employees have received a grant in the reporting period of option amounting to 5% or more of total option granted against ESOP 2021 (grant 2023): Note: There are no identified employees who were granted options, during any particular year, equal to or exceeding 1% of the issued capital (excluding outstanding warrants and conversions) of the company at the time of grant. Name of Employee Designation Number of Options granted Manoj Kumar N Nambiar Managing Director 2,00,000 Milind R Nare Chief Financial Officer 93,500 Arvind Murarka Chief Information Officer 77,500 Ranjan Das Chief Risk Officer 76,500 Note: The expected volatility was determined based on historical volatility data of the other comparable Company’s shares listed on the Stock Exchange. (vii) The fair value of the options granted is determined on the date of the grant using the “Black-Scholes option pricing model” with the following assumptions, as certified by an independent valuer. Particulars ESOP 2017 ESOP 2018 (grant 2018) ESOP 2018 (grant 2019) ESOP 2018 (grant 2020) ESOP 2021 (grant 2021) ESOP 2021 (grant 2022) ESOP 2021 (grant 2023) (A) Date of grant of options August 29, 2017 May 16, 2018 May 16, 2019 August 04, 2020 June 05, 2021 August 19, 2022 August 30, 2023 (B) Fair market value of option on the date of grant 14.71 37.61 49.53 56.83 75.94 47.26 76.30 (C) Exercise price 84.70 130.00 162.80 170.00 210.00 153.94 124.00 (D) Expected volatility (%) 35.95 34.25 39.02 47.60 46.31 51.08 50.43 (E) Expected forfeiture percentage on each vesting date - - - - - - - (F) Expected option life (weighted average) 1.04 2.50 2.50 2.57 3.00 2.50 7.01 (G) Expected dividends yield - - - - - - - (H) Risk free interest rate (%) 6.07% 7.51% 6.75% 4.39% 4.95% 6.57% 7.07% Note 27: Interest Income Year ended 31 March 2024 On Financial assets measured at fair value through OCI On financial assets measured at amortised cost Total Interest on loans 1,35,286.53 1,35,286.53 Interest on deposits with banks [refer note (a) below] - 1,768.98 1,768.98 Interest income on unwinding of assigned portfolio - 948.38 948.38 Other interest Income - 12.59 12.59 Total - 1,38,016.48 1,38,016.48 Note 27: Interest Income (cont'd) Year ended 31 March 2023 On Financial assets measured at fair value through OCI On financial assets measured at amortised cost Total Interest on loans - 91,059.35 91,059.35 Interest on deposits with banks [refer note (a) below] - 1,719.11 1,719.11 Interest income on unwinding of assigned portfolio - 294.45 294.45 Other interest Income - 23.99 23.99 Total - 93,096.90 93,096.90 (a) Represents interest on margin money deposits placed to avail term loans from banks and financial Institutions, overdraft facilities, bank guarantee, assets securitised, and secured non convertible debenture etc. Arohan Financial Services Limited Notes to financial statements for the year ended March 31, 2024 (Contd.) (All amounts in ` lakhs unless otherwise stated)
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