Tech Mahindra Allots Equity Shares As ESOP
Tech Mahindra reported in an exchange filing on Monday that the resolution made by the Securities Issuance Committee of the board of directors of the company on 10th September 2023, for issuance of 74,384 equity shares of Rs 5 each of the company to the applicants.
The equity shares have a face value of Rs 5 each.
The 74,384 equity shares are distributed as follows. 49,959 equity shares upon exercise of stock options under the ESOP – 2014 and 24,425 equity shares upon exercise of ESOP stock options in 2018.
Prior to the notification of the SEBI (Share Based Employee Benefits) Regulations, 2014, the stock exchanges allow the appended employee stock options. The subsequent approvals are strictly for corporate purposes.
