Pearl Global Industries Limited has informed the Exchange regarding Allotment of 24500 Equity Shares under ESOP Scheme - 2022
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Pearl Global Industries Limited has allotted 24,500 equity shares of Rs. 5 face value each to eligible employees under the company's Employee Stock Option Plan 2022. The shares were issued at exercise prices of Rs. 162.50 and Rs. 675 per share, representing premiums of Rs. 157.50 and Rs. 670 respectively over the face value. After this allotment, the total issued share capital stands at Rs. 23,09,20,585 divided into 4,61,84,117 shares. The newly issued shares are identical to existing shares and are not subject to any lock-in period.
This is a routine corporate action for employee compensation purposes. The dilution is minimal (24,500 shares out of 4.62 crore total shares) and should have negligible impact on the stock price. The exercise prices indicate options were granted at various levels.