Jindal Stainless Limited has informed the Exchange about allotment of equity shares under the JSL-Employee Stock Option Scheme 2023.
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Jindal Stainless Limited has allotted 6,50,000 equity shares (face value Rs. 2 each) to its ESOP Trust under the JSL-Employee Stock Option Scheme 2023. These shares will be passed on to eligible employees when they exercise their stock options. The total value of this allotment is approximately Rs. 10.54 crore, with exercise prices ranging from Rs. 2 (for RSUs) to Rs. 368 (for ESOPs). After this allotment, the company's total paid-up share capital has risen to Rs. 164.88 crore, divided into 82.44 crore equity shares. The newly issued shares will rank equally with existing shares and carry no lock-in period.
This is a routine ESOP allotment that slightly dilutes existing shareholders' stake, but the impact is minimal given the small size (6.5 lakh shares vs 82.44 crore total shares). No material effect on stock price is expected.