IndiGo grants 1.13 lakh stock options at face value amid stock slide

InterGlobe Aviation Limited, the parent company of budget carrier IndiGo, on Wednesday granted 1,13,500 Performance Stock Options to employees under its Employees Stock Option Scheme 2023 (ESOP 2023), the company disclosed to stock exchanges on July 22, 2026.

The Nomination and Remuneration Committee approved the grant at its meeting held the same day. Each option is priced at the face value of ₹10 per share, entitling grantees to acquire up to 1,13,500 equity shares of the company subject to vesting conditions. Once vested, the options can be exercised within four years from the date of vesting.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the scheme complies with SEBI’s Share Based Employee Benefits and Sweat Equity Regulations, 2021. The company confirmed there have been no changes, cancellations, or exercises of the options at this stage.

The grant comes as IndiGo shares trade under pressure. On the NSE, the stock was down 0.73 per cent at ₹5,079.50 as of mid-morning trade on July 23, against a previous close of ₹5,117. The stock has shed nearly 14 per cent over the past year, though it remains well above its 52-week low of ₹3,895.20 hit in March 2026. The company’s total market capitalisation stood at approximately ₹1,96,388 crore.

Diluted earnings per share from these options are not yet applicable, as the options are yet to be exercised.

Employee stock option grants at face value are a common retention and incentive tool in Indian aviation, a capital-intensive and operationally demanding sector. IndiGo has been the dominant domestic carrier by market share, though rising costs and competitive pressures have weighed on its stock performance over the past year.