Kirloskar Oil Engines Allots Equity Shares To Employees As Stock Options

Kirloskar Oil Engines Allots Equity Shares To Employees As Stock Options

With this allotment, the Issued and Subscribed Capital of the company has increased from 14,48,70,027 equity shares of Rs 2 each aggregating to R. 28,97,40,054 to14,48,82,900 equity shares of Rs 2 each aggregating to Rs 28,97,65,800.

FPJ Web DeskUpdated: Friday, September 15, 2023, 10:39 AM IST
article-image
Kirloskar Oil Engines Allots Equity Shares To Employees As Stock Options | Image: Kirloskar (Representative)

Kirloskar Oil Engines Limited on Friday through an exchange filing said that the , the Board of Directors in its meeting held on today has approved the following:

i) Investment in ‘Series A‐1 Optionally Convertible Redeemable Non‐Cumulative Preference Shares (the Series A‐1 Preferred Stock – OCRNPS) upto US dollar 5,000,000 (upto Rs. 42 crores) (i.e. upto 500,000 shares of Preferred Stock at a purchase price of US dollar 10 per share) of Kirloskar Americas Corporation, USA, a wholly owned subsidiary of the Company in tranches. This investment is to enable market development in Powergen applications for the North American markets.

ii) Allotment of 12,873 fully paid‐up Equity Shares of Rs 2 each upon exercise of Employee Stock Options pursuant to Kirloskar Oil Engines Limited – Employee Stock Option Plan 2019 (KOEL ESOP 2019).

With this allotment, the Issued and Subscribed Capital of the company has increased from 14,48,70,027 equity shares of Rs 2 each aggregating to R. 28,97,40,054 to14,48,82,900 equity shares of Rs 2 each aggregating to Rs 28,97,65,800.

The paid-up capital of the company increased from 14,48,69,562 fully paid‐up equity shares of Rs 2 each aggregating to Rs 28,97,39,124.

Kirloskar Oil Engines Limited shares

The shares og Kirloskar Oil Engines at 10:35 am IST were trading at Rs 504.05, up by 2.69 percent.

RECENT STORIES

ED Seizes Assets Worth Over ₹45 Cr In Mumbai & Chennai Raids Linked To Alleged ₹129 Cr Money...

ED Seizes Assets Worth Over ₹45 Cr In Mumbai & Chennai Raids Linked To Alleged ₹129 Cr Money...

Mahindra Finance Disbursement Rises By 16 percent YoY In November 2023

Mahindra Finance Disbursement Rises By 16 percent YoY In November 2023

ITR Filing: As Many As 7.76 Cr Tax Returns Filed For 2022-23 By December 2, More Expected By...

ITR Filing: As Many As 7.76 Cr Tax Returns Filed For 2022-23 By December 2, More Expected By...

Rupee Falls 3 Paise To Close At 83.36 Against US Dollar

Rupee Falls 3 Paise To Close At 83.36 Against US Dollar

Closing Bell: Indices End At Record High; Sensex Up 1,383.93 Points At 68,865.12, Nifty At 20,686.80...

Closing Bell: Indices End At Record High; Sensex Up 1,383.93 Points At 68,865.12, Nifty At 20,686.80...