Allotment of Equity Shares under ideaForge Employee Stock Scheme, 2018

IDEAFORGE · price

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₹775.95

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₹814.70

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AI summary

IdeaForge Technology Limited has allotted 1,256 equity shares to employees who exercised their vested stock options under the ESOP 2018 scheme. The shares have a face value of Rs. 10 each and were issued at the exercise price of Rs. 10 per share (at par, no premium). Following this allotment, the company's paid-up capital increased marginally from Rs. 43,38,76,410 to Rs. 43,38,88,970. The newly allotted shares rank pari-passu with existing equity shares and are not subject to any lock-in period. This is a routine employee compensation exercise under the company's stock option programme.

Likely market impact

This is a minor, routine dilution of approximately 0.003% and has negligible impact on existing shareholders or stock price. The exercise price at face value suggests options granted earlier when share price was near par value.