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Employees' Stock Option Plans (ESOP) (Tables)

12 Months Ended

Mar. 31, 2022

The following is the summary of grants made during fiscal 2022, 2021 and 2020 under the 2015 Plan and 2019 Plan:

	Fiscal 2022		Fiscal 2021		Fiscal 2020
2015 Plan
RSU - Equity settled
KMPs		284,543		457,151		506,526
Employees other than KMPs		1,305,880		2,203,460		3,347,650
		1,590,423		2,660,611		3,854,176

RSU - Incentive units (cash settled)
KMPs		—		—		180,400
Other employees		49,960		115,250		475,740
		49,960		115,250		656,140
2019 Plan
Equity settled Performance based RSU
KMPs		146,962		311,808		352,793
Employees other than KMPs		2,703,667		1,284,600		1,738,500
		2,850,629		1,596,408		2,091,293

Total grants		4,491,012		4,372,269		6,601,609

Refer to Note 2.20 for details on appointment and resignation of KMPs

Break-up of employee stock compensation expense

(Dollars in millions)
	Year ended March 31,
	2022		2021		2020
Granted to:
KMP		9	10		8
Employees other than KMP		47	35		26
Total		56		45		34
Cash settled stock compensation expense included in the above		3	11		1

The fair value of each equity settled award is estimated on the date of grant using the following assumptions:

	For options granted in
	Fiscal 2022- Equity Shares-RSU		Fiscal 2022- ADS- RSU
Weighted average share price (₹) / ($- ADS)		1,791		24.45
Exercise price (₹)/ ($- ADS)		5.00		0.07
Expected volatility (%)	20-35		25-36
Expected life of the option (years)	1-4		1-4
Expected dividends (%)	2-3		2-3
Risk-free interest rate (%)	4-6		1-3
Weighted average fair value as on grant date (₹) / ($- ADS)		1,548		20.82

	For options granted in
	Fiscal 2021- Equity Shares-RSU		Fiscal 2021- ADS- RSU
Weighted average share price (₹) / ($- ADS)		1,253	18.46
Exercise price (₹)/ ($- ADS)		5.00	0.07
Expected volatility (%)	30-35		30-36
Expected life of the option (years)	1-4		1-4
Expected dividends (%)	2-3		2-3
Risk-free interest rate (%)	4-5		0.1-0.3
Weighted average fair value as on grant date (₹) / ($- ADS)		1,124	16.19

	For options granted in
	Fiscal 2020- Equity Shares-RSU		Fiscal 2020- ADS- RSU
Weighted average share price (₹) / ($- ADS)		728	10.52
Exercise price (₹)/ ($- ADS)		5.00	0.07
Expected volatility (%)	22-30		22-26
Expected life of the option (years)	1-4		1-4
Expected dividends (%)	2-3		2-3
Risk-free interest rate (%)	6-7		1-3
Weighted average fair value as on grant date (₹) / ($- ADS)		607	7.84

The activity in the 2015 Plan and 2019 Plan for equity-settled share based payment transaction during fiscal 2022 is set out below:

	Year ended March 31, 2022
	Shares arising out of options		Weighted average exercise price($)
2015 Plan: RSU
Outstanding at the beginning		8,047,240		0.06
Granted		1,590,423		0.07
Exercised		2,569,983		0.05
Forfeited and expired		834,705		0.06
Outstanding at the end		6,232,975		0.06
Exercisable at the end		653,775		0.06
2015 Plan: ESOP
Outstanding at the beginning		1,049,456		7.32
Granted		—		—
Exercised		348,612		7.02
Forfeited and expired		—		—
Outstanding at the end		700,844		7.35
Exercisable at the end		700,844		7.35
2019 Plan: RSU
Outstanding at the beginning		3,050,573		0.07
Granted		2,850,629		0.07
Exercised		755,557		0.07
Forfeited and expired		186,707		0.07
Outstanding at the end		4,958,938		0.07
Exercisable at the end		692,638		0.07

The activity in the 2015 Plan and 2019 Plan for equity-settled share based payment transaction during fiscal 2021 is set out below:

	Year ended March 31, 2021
	Shares arising out of options		Weighted average exercise price($)
2015 Plan: RSU
Outstanding at the beginning		8,780,898		0.05
Granted		2,660,611		0.07
Exercised		3,783,462		0.05
Modification to equity settled awards		871,900		—
Forfeited and expired		482,707		0.06
Outstanding at the end		8,047,240		0.06
Exercisable at the end		151,685		0.05
2015 Plan: ESOP
Outstanding at the beginning		1,100,330		7.13
Granted		—		—
Exercised		239,272		7.21
Modification to equity settled awards		203,026		—
Forfeited and expired		14,628		7.63
Outstanding at the end		1,049,456		7.32
Exercisable at the end		1,002,130		7.33
2019 Plan: RSU
Outstanding at the beginning		2,091,293		0.07
Granted		1,596,408		0.07
Exercised		370,170		0.07
Forfeited and expired		266,958		0.07
Outstanding at the end		3,050,573		0.07
Exercisable at the end		233,050		0.07

The activity in the 2015 Plan and 2019 Plan for equity-settled share based payment transaction during fiscal 2020 is set out below:

	Year ended March 31, 2020
	Shares arising out of options		Weighted average exercise price($)
2015 Plan: RSU
Outstanding at the beginning		9,181,198		0.05
Granted		3,854,176		0.07
Exercised		2,561,218		0.04
Modification to cash settled awards		1,061,820		—
Forfeited and expired		631,438		0.05
Outstanding at the end		8,780,898		0.05
Exercisable at the end		392,185		0.03
2015 Plan: ESOP
Outstanding at the beginning		1,623,176		7.46
Granted		—		—
Exercised		104,796		7.26
Modification to cash settled awards		351,550		—
Forfeited and expired		66,500		7.43
Outstanding at the end		1,100,330		7.13
Exercisable at the end		780,358		7.17
2019 Plan: RSU
Outstanding at the beginning		—		—
Granted		2,091,293		0.07
Exercised		—		—
Forfeited and expired		—		—
Outstanding at the end		2,091,293		0.07
Exercisable at the end		—		—

The following table summarizes information about equity settled RSUs and ESOPs outstanding as of March 31, 2022:

	2019 Plan - Options outstanding						2015 Plan - Options outstanding
Range of exercise prices per share ($)	No. of shares arising out of options		Weighted average remaining contractual life		Weighted average exercise price ($)		No. of shares arising out of options		Weighted average remaining contractual life		Weighted average exercise price ($)
American Depositary Share (ADS) and Indian Equity Shares (IES)
0 - 0.07 (RSU)		4,958,938		1.43		0.07		6,232,975		1.47		0.06
6 - 8 (ESOP)		—		—		—		700,844		0.65		7.35

The following table summarizes information about equity settled RSUs and ESOPs outstanding as at March 31, 2021:

	2019 Plan - Options outstanding						2015 Plan - Options outstanding
Range of exercise prices per share ($)	No. of shares arising out of options		Weighted average remaining contractual life		Weighted average exercise price ($)		No. of shares arising out of options		Weighted average remaining contractual life		Weighted average exercise price ($)
American Depositary Share (ADS) and Indian Equity Shares (IES)
0 - 0.07 (RSU)		3,050,573		1.48		0.07		8,047,240		1.67		0.06
6 - 8 (ESOP)		—		—		—		1,049,456		1.83		7.32