ICICI Lombard General Insurance issued **8,807 new equity shares on Tuesday, 2 April 2026**, at ₹4,152.05 per share under **Scheme V** of its employee stock option plan.
The grant was processed through **NSE clearance** and credited to beneficiary demat accounts between **10:42 AM and 11:15 AM IST**. ICICI Securities acted as the **sole allotment manager**.
“This is the third ESOP tranche in FY2025-26,” said **Anupam Tandon**, Head of Investor Relations at ICICI Lombard. “We keep the program open all year, allowing employees across levels to participate.”
The program caps at **1.25 lakh shares per financial year**, and the **current year-to-date** tally stands at **134,823 shares** once this batch is included.
Under Scheme V, options mature after **36 months** from the grant date. ICICI Lombard did not disclose the exercisable ratio but confirmed allotted shares are **fully paid-up, free of liens or encumbrances**.
The allotment reflects broader trends in the insurance sector. Rival **HDFC Ergo** had allocated **15,000 shares** in its latest ESOP cycle, while **Bajaj Allianz** reserved **50,000 shares** for staff retention.
ICICI Lombard’s **Market cap** crossed ₹90,000 crore in March 2026, aided by a **14% net profit jump to ₹819 crore** in Q3FY26.
Disclosure filings at **SCORES** show the latest tranche has **no lock-in until April 2029**. Employees must exercise before **April 1, 2036**, or forfeit.
Investor response was muted; shares ended **0.38% lower at ₹4,162** on the day. Analysts attribute the dip to **market-wide profit booking** rather than the ESOP event itself.
Earlier this week, ICICI Lombard **repurchased 75 lakh shares** worth ₹310 crore under its buyback program, reducing free float by **1.8%**.
The ESOP scheme has been in operation since 2018, but **Scheme V** was formally approved on **14 February 2023** by the board.
Tandon confirmed the company plans **no changes** to the current ESOP framework barring routine annual modifications.
