L&T Finance Limited has informed the Exchange regarding Allotment of 313000 equity shares.
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L&T Finance Limited has allotted 313,000 equity shares to employees who exercised their stock options under the L&TFL Employee Stock Option Scheme – 2013. The allotment was approved by the ESOP Allotment Committee through a resolution passed by circulation. The newly allotted shares will rank pari-passu with existing equity shares and will be entitled to future dividends. This is a routine ESOP exercise and issuance of shares to employees.
The issuance of 313,000 new shares represents a marginal increase in the company's equity base and has no material impact on existing shareholders. This is a standard employee compensation event.