The JPL has thus become the second company in the country after Kinetic Motors Ltd to take advantage of the Securities and Exchange Board of India (Sebi) guidelines allowing the companies to make applicable the scheme of ESOP to its employees. Cigarette giant ITC Ltd is also reported to be toying with the idea of going for ESOP. Itc chairman Y C deveshwar has recently said that they were considering to take advantage of the sebi guidelines in this connection. Sources said each option of jpl to be granted to eligible employees will entitle the employee to apply for and be allotted one equity share at such priceto be determined by the board. A resolution seeking approval of the shareholders would be placed in company's coming annual general meeting, sources added.