The Federal Bank Limited has informed the Exchange about Allotment of Equity Shares on exercise of Stock options pursuant to Employee Stock Option Scheme
FEDERALBNK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Federal Bank has allotted 1,24,203 equity shares (face value Rs. 2 each) to employees upon exercise of stock options under two ESOS schemes. Under ESOS 2010, 1,000 shares were allotted, while under ESOS 2017, 1,23,203 shares were allotted. The allotments were approved by the Nomination, Remuneration, Ethics and Compensation Committee after the option grantees paid the required exercise money. This is a routine disclosure as part of the bank's employee stock option programme.
The share issuance results in minimal equity dilution for existing shareholders. The impact on the stock price is expected to be negligible given the relatively small number of shares compared to the total outstanding equity.