Approved and Allotment of 91,696 fully paid-up equity shares of Rs.10/- each upon exercise of options granted under Jaro Education Employee Stock Option Plan 2022.
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Jaro Institute of Technology Management and Research Ltd has allotted 91,696 fully paid-up equity shares of Rs. 10/- each to eligible employees upon exercise of stock options under the Jaro Education Employees Stock Option Plan 2022. The allotment was approved by the Board of Directors on May 02, 2026. The exercise price for these shares is Rs. 10/- per share with no premium. The total issued share capital after this allotment stands at 2,22,70,387 shares (Rs. 22,27,03,870). Additionally, 22,674 bonus shares were allotted as tag rights for the first ESOP grant dated May 02, 2022, in line with the bonus issue ratio of 1:3 approved by shareholders on May 24, 2024. There is no lock-in on these shares.
This is a routine ESOP exercise that causes modest dilution to existing shareholders. The allotment of shares at face value with no premium represents employee compensation costs and increases the company's share capital. The dilution is marginal given the large existing share base of over 2.2 crore shares.