Mindteck (India) Limited has informed the Exchange regarding 'Grant of ESOPs'.
MINDTECK · price
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Awaiting price reaction for this filing.
Mindteck's board met on May 23, 2025 and approved several items beyond the ESOP grant highlighted in the headline. The board recommended a final dividend of 10% (Re. 1 per share on Rs. 10 face value) for FY 2024-25, subject to shareholder approval. It appointed Mr. Santosh Nandiyath (currently Interim CFO) as the full-time Chief Financial Officer effective May 24, 2025; he is a Chartered Accountant with 15 years of experience at firms like Deloitte, EY GDS, CitiusTech and Altisource. The board granted 70,000 stock options to eligible employees at Rs. 229.72 per option, which was the previous day's closing price on NSE. It also appointed Mr. S Kannan as Secretarial Auditor for five years (FY 2025-26 onwards) and re-appointed Vasan & Sampath LLP as Internal Auditor for FY 2025-26. Additionally, the relieving date of Managing Director & CEO Anand Balakrishnan was moved up from May 31, 2025 to May 26, 2025.
The dividend of Re. 1 per share works out to a modest yield of roughly 0.4% at the current price of Rs. 229.72, so it is more of a symbolic payout than a yield event for shareholders. ESOPs were granted at market price (no discount), so no immediate dilution benefit or cost to existing shareholders. The early exit of the MD/CEO and the formalisation of a new CFO are key governance changes investors should watch closely.