Tech Mahindra Limited on Wednesday announced the allotment of 1,20,110 equity shares with a face value of Rs 5 each to employees as stock option, the company announced through an exchnage filing.
The Securities Allotment Committee of the Board of Directors approved this resolution on November 22, 2023.
The 1,20,110 equity shares were alloted as following:
1) 70,960 equity shares exercised under the ESOP – 2014 scheme
2) 49,150 equity shares exercised under the ESOP – 2018 scheme.
The face value of the equity shares is Rs 5 each.
These shares were allotted to eligible applicants in accordance with the company's ESOP policies.
The issuance of these equity shares further increases Tech Mahindra's capital structure, bringing the total issued share capital to Rs 4,880,072,285.
The employee stock options mentioned were approved by the stock exchanges before the introduction of the SEBI (Share Based Employee Benefits) Regulations in 2014. The subsequent approvals obtained are specifically for corporate actions. The statement required under Regulation 10(b) for the ESOP-2018 scheme was duly filed with BSE Limited & National Stock Exchange of India Limited on 27th February, 2019, in accordance with regulatory guidelines, the company said in the regulatory filing.
Tech Mahindra Limited shares
The shares of Tech Mahindra Limited on Wednesday at 2:46 pm IST were trading at Rs 1,216.35, up by 0.98 percent.