Allotment of 1,24,000 equity shares pusuant to ESOP 2022
Awaiting price reaction for this filing.
Suzlon Energy's Securities Issue Committee approved the allotment of 1,24,000 equity shares (face value Rs. 2 each) to eligible employees upon exercise of options under Grant 1 of ESOP 2022. The shares were issued at an exercise price of Rs. 5 per share, meaning a Rs. 3 premium over face value, and the company received Rs. 6,20,000 in cash. Options under this grant had originally been issued on 22nd May 2023, and there were no changes to the original terms. Post-allotment, the company's paid-up equity capital stands at approximately Rs. 2,729.79 crore, divided into about 1,364.89 crore fully paid-up equity shares.
This is a routine ESOP allotment with a very small dilution of around 1,24,000 shares on a base of over 1,364 crore shares, having negligible impact on overall shareholding or stock price. It signals healthy employee participation in the company's stock incentive plan.