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Tech Mahindra: Employees are allotted equity shares as stock options

Sep 11, 2023

By: BlinkX Research Team

Tech Mahindra reported in an exchange filing on Monday that the resolution passed by the Securities Allotment Committee of the Board of Directors of the Company on September 10, 2023, for the allotment 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 allotted as:

i) 49,959 equity shares, on the exercise of stock options under ESOP - 2014 

ii) 24,425 equity shares, on the exercise of stock options under ESOP - 2018

Before the notification of the SEBI (Share Based Employee Benefits) Regulations, 2014, the stock exchanges approved the appended employee stock options. The subsequent approvals are strictly for corporate purposes.

The company announced via exchange filing that a statement under Regulation 10(b) for the ESOP-2018 scheme had been filed to BSE Limited and the National Stock Exchange of India Limited on February 27, 2019.

The total number of issued shares following this issuance was 975,017,338 and the total issued share capital was Rs 4,875,086,690.