Intellect Design Arena Announces 1,76,562 Equity Shares To Employees As Stock Option

Intellect Design Arena Limited on Tuesday announced that the Stakeholders Relationship Committee (SRC) of Board of Directors of the Company has vide Circular Resolution approved the allotment of 1,76,562 Equity Shares of Rs 5 each on to the option grantees who have exercised their options granted under the ESOP Schemes , the company announced through an exchange filing.

The face value of the equity shares is Rs 5 each.

The equity shares were alloted as:

i) 30,675 Equity Shares under the Intellect Stock Option Plan 2015 (ISOP 2015) Scheme.

ii) 4,500 Equity Shares under the Intellect Stock Option Plan 2016 (ISOP 2016) Scheme.

iii) 141,387 Equity Shares under the Intellect Incentive Plan Scheme 2018 (IIPS 2018) Scheme.

Through the filings, the company said it is in the process of applying for listing and trading of the above shares on NSE and BSE.

With this allotment, the paid-up share capital of the Company accordingly increases from Rs 68,14,62,115 divided into 13,62,92,423 equity shares of Rs 5 each to Rs 68,23,44,925 divided into 13,64,68,985 equity shares of Rs 5 each.

The new equity shares issued shall rank pari- passu with the existing equity shares.

Intellect Design Arena Limited shares

The shares of Intellect Design Arena on Tuesday at 2:13 pm IST  were at Rs 695.95, up by 0.88 percent.