Allotment of 24,000 equity shares pursuant to Credo Stock Option Plan 2020
MUFTI · price
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Credo Brands Marketing Ltd (known by its brand MUFTI) has allotted 24,000 equity shares of Rs. 2 each to eligible employees who exercised stock options under the Credo Stock Option Plan 2020. The shares were issued at Rs. 31.35 per share (including Rs. 29.35 premium). Following this allotment, the company's paid-up equity share capital increased from Rs. 130.74 crore to Rs. 130.79 crore. The total issued shares now stand at 65.39 million. There is no lock-in on these newly allotted shares, and they are identical to existing shares in all respects.
This is a routine ESOP exercise resulting in minimal dilution of approximately 0.04%. The impact on stock price is negligible as only 24,000 shares were issued out of over 65 million total shares. No immediate shareholder impact expected.