Corporate Announcement  (Feb 28 , 2011)


Sub: Grant of stock options under the employee stock option scheme of Indiabulls Wholesale Services Limited (the Company) – Indiabulls Wholesale Services Limited Employee Stock Option Scheme- 2011 (hereinafter referred to as “IBWSL ESOP-2011”).

 Dear Sirs,

Pursuant to the applicable provisions of the Listing Agreement we wish to inform you that the Compensation Committee of the Board of Directors of the Company has in its meeting held today i.e. on February 28, 2012, granted  12,57,000 (Twelve Lac Fifty Seven Thousand only) stock options in terms of the IBWSL ESOP-2011.

These options represent an equal number of Equity shares of face value Rs. 2 each in the Company and shall vest within ten years beginning from March 1, 2013 the first vesting date. Further the options granted under each slab, can be exercised within a period of five years from the relevant vesting date.

Thanking you,

Yours truly,

For Indiabulls Wholesale Services Limited