Suzlon Energy has begun a mega HR exercise to keep its flock intact. The

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Pune-based company, which is among world’s leading wind power equipment manufacturers, said on Wednesday that it would issue around 14 million shares under the employees stock option plan (ESOP) to celebrate its 15th anniversary.

Suzlon will issue the new shares worth Rs 101 crore or one per cent of the share capital to around 90 per cent of its employees. The Esop will cover employess from Suzlon’s subsidiaries excluding Hansen and REpower. The exercise price has been fixed at Rs 72.70 per share. On Tuesday, the share closed at Rs 73.05 on the Bombay Stock Exchange.

The scheme is open to all permanent employees who have completed six months with the company as on March 31, 2010, and have not been granted Esop under any other scheme. In effect, the scheme reaches over 9,400 employees in 21 countries across five continents, the company said.

The issue would have the vesting or the lock-in period of up to four years, with 500 options to be exercised at a gap of one year beginning April 1, 2011, till 2013. However, the overall option need to be exercised within the four-year period from the date of grant, that is April 1, 2010.

“Of the total 11,000 employees, at least 90 per cent of employees will be granted 1,500 share options each. We hope it will make our employees true stakeholders and drive greater engagement. Besides, the broader corporate community will now consider adopting too,” the company said in a release.

Tulsi R Tanti, chairman and managing director, said in a statement that the company has completed 15 years on April 10, 2010.

“It is hard to believe that 15 years ago we started the company with just three people. Today, Suzlon Energy and its subsidiaries have almost 11,000 employees and a majority of them will be granted 1,500 share options each — totalling approximately 14 million shares, and about one per cent of the capital,” said Tanti.

“What makes this Esop initiative unique and important is its scale and reach. At Suzlon we know our greatest strength is our employees,” he said.

Harshu Ghate, managing director of Pune-based Esop solutions provider, Esop Direct, said the Esop is indeed attractive for employees. “It is an attractive option for employees, even if it is not steeply discounted to its market price,” Ghate said, adding that the value would accrue over 2-3 years.