International Conveyors Limited has informed the Exchange regarding 'Intimation of In-principal Approval received from NSE for listing of up to a maximum of 33,75,000 Equity Shares of Re. 1/- each of International Conveyors Limited ( the Company ) to be issued under ICL Employee Stock Option Plan 2020.'.
INTLCONV · price
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International Conveyors Limited has received in-principle approval from NSE to list up to 33,75,000 equity shares of Re. 1 each, which will be issued under the company's Employee Stock Option Plan 2020 (ESOP 2020). This means the company has cleared a key regulatory step for introducing these shares on the exchange. The shares will be allotted to eligible employees as part of their stock-based compensation. The actual issuance and listing will happen as and when employees exercise their options.
This is a routine procedural step that enables the company to reward employees through stock options. There is no immediate dilution for existing shareholders since shares will be issued only upon option exercise. It signals an employee-friendly retention mechanism but is not expected to materially affect the stock price in the short term.