Reliance Capital today announced the launch of the Employees' Stock Option (ESOP) Scheme 2017.

Under the Scheme, the Company has granted ESOPs with a notional value of approx. Rs 3 billion to 500 employees across its various group units, and eligible employees have received options on RCL listed stock and / or phantom shares of its unlisted operating businesses.

The ESOPs comprise of 9,21,000 shares of Reliance Capital plus shares / Phantom Shares of operating subsidiaries and associates. The grants have been approved by the Board of Directors of Reliance Capital and the respective group companies.

The scheme is part of Reliance Capital's Rewards Programme aimed at retaining and incentivizing key employees for their contribution to the growth and profitability of the Company.

''We are delighted to offer ESOPs that will enable our key talent to participate in the long term wealth creation opportunities, linked to the growth of the Company. The Scheme will help us attract, retain and reward talent and also align the employees' sense of ownership with the company,'' said Anmol Ambani, ED, Reliance Capital.

The scheme will be applicable to employees of Reliance Capital and its businesses - including Reliance Nippon Life Asset Management, Reliance Commercial Finance, Reliance Home Finance, Reliance Nippon Life Insurance, Reliance General Insurance and Reliance Securities.

The Options vest over a period of 4 years, with customary lock-in period, etc.

Shares of the company gained Rs 17.35, or 2.33%, to trade at Rs 761.70. The total volume of shares traded was 387,416 at the BSE (2.52 p.m., Wednesday).