SBI Cards Allots 31 Lakh Equity Shares As ESOP
SBI Card will distribute 3,104,770 equity shares worth $10 each to eligible employees, the company announced. This was approved by the company's board's Nomination and Remuneration Committee on 23 October, it added.
The distribution will take place through the SBI Card - Employee Stock Option Plan 2019 (ESOP Scheme 2019). These shares have an exercise price of 152.10 per share.
Following this allotment, the company's paid-up capital increased from 946 crore, which consisted of 94,673,5259 equity shares worth 10 each, to 950 crore, which consisted of 94,984,0029 equity shares worth the same amount.
SBI Cards and Payment Services reported a 2.7 per cent increase to 596.5 crore for the quarter ended 31 March 2023. This compares to a net profit of 581 crore in the previous fiscal's corresponding quarter.
