Nitco Limited has informed the Exchange regarding Allotment of 3,38,150 Equity Shares of ₹10/- each, in lieu of exercise of 3,38,150 Employee Stock Options granted to the eligible employees of the Company in terms of NITCO - Employee Stock Option Plan 2019
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Nitco Limited has allotted 3,38,150 equity shares of ₹10 each to eligible employees who exercised their stock options under the NITCO Employee Stock Option Plan 2019. This is a routine allotment arising from the conversion of ESOPs into actual shares. As a result, the company's total paid-up equity share capital has increased correspondingly. The allotment was carried out in compliance with the company's approved ESOP scheme and applicable SEBI regulations.
Minor dilution for existing shareholders due to the increase in share count, though the impact is small. No material effect on stock price expected as this is a routine ESOP-related event.