Laxmi Dental Limited has informed the Exchange regarding Notice of Postal Ballot
LAXMIDENTL · price
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Laxmi Dental Limited has issued a Postal Ballot Notice seeking shareholder approval through remote e-voting to ratify its Employee Stock Option Scheme 2024 (ESOP 2024). The scheme was originally approved by the Board on August 9, 2024 and by shareholders on August 16, 2024, before the company's IPO listing on January 20, 2025. The resolution seeks ratification of up to 5,00,000 (five lakh) stock options, convertible into equal number of equity shares of face value ₹2 each, with a maximum of 50,000 options per employee per year. The vesting period ranges from 1 to 4 years, and options must be exercised within 4 years of vesting. E-voting opens on April 18, 2025 and closes on May 17, 2025, with results to be announced by May 20, 2025. The ratification is required under SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 for ESOPs framed prior to listing.
This is a routine post-listing compliance step for ESOPs already approved before the IPO, with limited dilution potential of up to 5 lakh shares. Approval will enable the company to grant stock options as a retention and motivation tool for employees, with minimal impact on existing shareholders.