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-principal approval from both NSE and BSE for issuing up to 33,00,000 equity shares of Rs. 1/- each under the Employee Stock Option Plan 2026 (ESOP 2026). The company sought this approval in compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. Both exchanges have granted approval subject to conditions including regulatory compliance, submission of documents after actual share allotment, and receipt of statutory approvals. The ESOP scheme is designed to incentivize and retain employees by offering them stock options.
The ESOP plan is positive for employee retention and aligns employee interests with shareholders. However, potential share dilution of up to 33 lakh shares may have a minor impact on existing shareholders' equity, though the effect is likely limited given the face value of Rs. 1 per share.