Corporate Announcement  (Feb 15 , 2013)



Subject: Format for furnishing the details of employee benefit schemes involving dealings in secondary market, not covered under SEBI (ESOS AND ESPS) Guidelines 1999

  1. Name of the Issuer:
    Indiabulls Wholesale Services Limited

  2. Name of the Scheme:
    Indiabulls Wholesale Services Limited Employee Stock Option Scheme – 2011 (“IBWSL ESOP – 2011”)

  3. Date of implementation:
    February 28, 2012

  4. Mode of Implementation (Trust/Direct):

  5. Brief particulars about the Scheme (modus operandi):

    Details of Trust: Indiabulls Employees’ Welfare Trust (EWT), an independent trust, was set up by Indiabulls Financial Services Limited, Indiabulls Real Estate Limited, Indiabulls Securities Limited, Indiabulls Power Limited. and Store One Retail India Limited (“Settlors”), through a registered trust deed dated October 4, 2010 to administer and manage their ESOP schemes, for the benefit and welfare of their respective employees and that of their subsidiaries  

    Trustees: (1) Mr. Raj Singh Nandal, (2) Mr. Ishwar Singh Goyath and (3) Mr. Virender Singh

    Relationship with Promoters or Directors of the Company:

  6. Whether promoters/persons belonging to the promoter group/directors, are also beneficiaries in the scheme. If so, the details thereof and their entitlements:

  7. No. of shares held by Trust/any other agency managing the scheme as on the date of the circular:

    (a) IBWSL Employees’ Welfare Trust (EWT) has not bought any shares from the secondary market and does not hold any shares in the Company.
    (b) Indiabulls Employees’ Welfare Trust (IBEWT) - 24,33,736 shares
    Note : Since as on the record date fixed under the Court approved Scheme of Arrangement between the Company and Indiabulls Real Estate Limited (IBREL) (the “Scheme”) i.e. April 25, 2011,  Indiabulls Employees’ Welfare Trust (IBEWT) was holding 1,94,69,893 shares of IBREL, it was allotted 24,33,736 shares of the Company on April 27, 2011, in the share entitlement ratio of 1 Equity share of face value Rs 2 each of the Company credited as fully paid-up for every 8 Equity shares of face value Rs. 2 each held in IBREL.

  8. How the Trust/agency is proposing to deal with the existing holding (whether to be transferred to the employees, or to be sold in the market for transferring the benefits to the employees, if so, details regarding proposed date of such transfer or sale shall be given). Such date shall not be later than June 30, 2013:
    The shares so allotted to IBEWT as aforesaid shall be off-loaded in the market on or before the stipulated date.

  9. Details of persons who are entitled to shares or benefits accruing out of the shares, which form part of more than 1 percent of the paid up share capital, as on the date of the circular in the following format:

    Name of the employee Whether falling under Promoter/promoter group/directors No. of entitled shares % of such entitlement over the paid-up share capital No. of shares transferred/allotted to them/benefits of which is passed on to them out of (3)
    (1) (2) (3) (4) (5)
  10. Details of secondary market purchases/sales by the company/Trust/ any other agency managing the scheme if any, since April 01, 2012 in the following format:

  11. SI Date/Time Type of Transaction
    No. of Securities Price at which Purchased/sold

*No shares have been purchased / sold since April 2012 till date.

Please take the above information on your record.

Thanking you,

Yours truly,
For Indiabulls Wholesale Services Limited