Onward Technologies Limited has informed the Exchange regarding Allotment of 6800 Shares.
ONWARDTEC · price
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Onward Technologies has allotted 6,800 equity shares to eligible employees who exercised their vested options under the ESOP 2019 scheme. Each share has a face value of Rs 10 with a premium of Rs 10, making the exercise price Rs 20 per share. After this allotment, the company's total paid-up share capital stands at Rs 22.76 crore comprising 2,27,60,670 equity shares. The new shares will rank equally with existing shares and are not subject to any lock-in restrictions. This is a routine compliance filing under SEBI's Share Based Employee Benefits regulations.
The share issuance under ESOP results in minor dilution of existing shareholders' stake. The impact on the stock price is expected to be negligible as the quantity (6,800 shares) is very small relative to the total outstanding shares.