NACL Industries Limited has informed the Exchange regarding Allotment of 65000 Shares under ESOS 2020 Scheme
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NACL Industries Limited's Nomination and Remuneration Committee approved the allotment of 65,000 equity shares of face value ₹1 each upon exercise of vested stock options under the NACL Employee Stock Option Scheme 2020. The weighted average exercise price was ₹75.23 per share, ranging from ₹72 to ₹82 for different employees. Following this allotment, the company's issued and paid-up equity share capital increased from ₹23,41,78,330 to ₹23,42,43,330. The new shares rank pari-passu with existing equity shares in all respects, including dividend entitlement, and there is no lock-in on these shares.
This is a routine employee stock option exercise that causes minor share dilution. The impact on shareholders is negligible as only 65,000 shares were added to the existing 23.42 crore shares outstanding.