Credo Brands Marketing Limited has informed the Exchange regarding allotment of 24000 securities pursuant to ESOP/ESPS at its meeting held on May 21, 2026
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Credo Brands Marketing Limited has allotted 24,000 equity shares of Rs. 2 each to eligible employees who exercised their stock options under the Credo Stock Option Plan 2020. The shares were issued at Rs. 31.35 per share (including a Rs. 29.35 premium). Following this allotment, the company's paid-up equity capital increased from Rs. 130,740,206 to Rs. 130,788,206. The total issued share capital now stands at 65,394,103 shares. The shares are identical in all respects to existing shares with no lock-in restrictions. This is a routine employee stock option exercise and does not involve any fresh capital raise.
The dilution from 24,000 new shares is minimal given the large total base of 65.4 million shares. Existing shareholders face negligible ownership change. The transaction reflects employee compensation through equity, which can be positive for talent retention.