Tech Mahindra Allots Equity Shares To Employees As Stock Option

Tech Mahindra on Monday announced that the resolution passed by the Securities Allotment Committee of the Board of Directors of the Company on September 10, 2023, for allotment of 74,384 equity shares of Rs 5 each of the Company to the applicants, the company announced through an exchange filing.

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

The 74,384 equity shares is allotted as:

i) 49,959 equity shares, on exercise of stock options under ESOP – 2014

ii) 24,425 equity shares, on exercise of stock options under ESOP – 2018

The appended employee stock options are approved by the stock exchanges prior to the notification of SEBI (Share Based Employee Benefits) Regulations, 2014. The subsequent approvals are only for the purpose of corporate actions.

Statement under Regulation 10(b) for ESOP-2018 scheme was filed with BSE Limited & National Stock Exchange of India Limited on 27th February, 2019, the company informed via the exchange filing.

Total Issued shares after this issue was 975,017,338 and the total Issued share capital after this issue was Rs 4,875,086,690.

Tech Mahindra shares

The shares of Tech Mahindra on Monday at 12:01 pm IST were at Rs 1,265.95, up by 0.24 percent.