Mangalam Global Enterprise Limited has informed the Exchange regarding 'Receipt of In-Principal approval for issue of Equity shares under the "Employee Stock Option Plan 2026" of the Company.'.
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Mangalam Global Enterprise Limited has received in-principle approval from both NSE and BSE for listing up to 33,00,000 equity shares of Rs. 1/- each. These shares will be issued to employees upon exercise of stock options under the company's Employee Stock Option Plan 2026. The approval has been granted under SEBI's Share Based Employee Benefits Regulations, 2021 and SEBI Listing Regulations. The exchanges have specified conditions including notification after actual allotment, compliance with statutory requirements, and submission of required documents. The company will need to notify exchanges after shares are allotted and credited to beneficiary accounts before trading permission is issued.
This announcement indicates the company is implementing an employee stock option scheme to attract and retain talent. While this dilutes existing shareholder equity, the impact is modest (33 lakh shares at Rs 1 face value) and spread over time as options are exercised. It reflects management confidence in the company's growth prospects.