Federal Bank allots shares worth Rs 4.49 lakh to employees as stock options

The allotment of 1,000 equity shares worth Rs 2 each will be allocated under the ESOS 2010 Scheme on January 22, 2023.

Pratiksha ThayilUpdated: Monday, January 23, 2023, 11:50 AM IST
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Federal Bank allots shares worth Rs 4.49 lakh to employees as stock options | Image: Federal Bank (Representative)

Federal Bank on Monday announced that the Nomination, Remuneration, Ethics, and Compensation Committee approved the allotment of 2,24,808 equity shares worth Rs 4,49,616 as stock options, through an exchange filing.

The allotment of 1,000 equity shares worth Rs 2 each will be allocated under the ESOS 2010 Scheme on January 22, 2023. While, 2,23,808 equity shares worth Rs 2 each will be allocated under the ESOS 2017 Scheme on January 22, 2023.

MCLR

The Federal Bank on January 16, hiked the MCLR by 20 bps across loan tenures.

Shares

On Monday at 11:47 am the shares of Federal Bank were at Rs 135.70, up by 1.08 per cent.

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