Greaves Cotton Limited has informed the Exchange regarding Allotment of 10000 Shares.
GREAVESCOT · price
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Greaves Cotton's Nomination and Remuneration Committee approved the allotment of 10,000 equity shares to an option grantee under the Greaves Cotton – Employee Stock Option Plan 2020. The shares have a face value of Rs. 2/- each and were allotted at an exercise price of Rs. 2/- per share, totalling Rs. 20,000. Post-allotment, the company's paid-up equity capital stands at Rs. 46,55,85,470 divided into 23,27,92,735 equity shares of Rs. 2/- each. The new shares will rank equally with existing shares.
This is a routine and very small ESOP allotment (10,000 shares out of over 23 crore shares) with negligible impact on shareholding pattern or stock price. It is a standard employee benefit event with no material financial implication for shareholders.