Mumbai, April 15 (PTI): The Mukesh Ambani-controlled Reliance Industries Limited (RIL) has offered 28,728,000 shares under its employee stock option scheme to around 18,000 eligible employees.

The notional value of this comes to around Rs 4,000 crore, one of the largest among such schemes offered in India.

In a communique to stock exchanges, Reliance Industries said the options would vest based on specified criteria and the vesting period would range between one year and seven years from the date of the grant.

The exercise period will extend up to five years from the date of vesting.

The options not vested in the specified vesting period on account of not meeting the specified criteria and the options vested but not exercised within the exercise period would lapse, Reliance Industries said.