Persistent Systems Limited has informed the Exchange regarding allotment of 550000 securities pursuant to ESOP/ESPS at its meeting held on May 08, 2025
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Persistent Systems has allotted 550,000 equity shares (face value ₹5 each) to its PSPL ESOP Management Trust at an allotment price of ₹316.30 per share, for a total consideration of approximately ₹173.96 million (₹17.4 crore). This is the first tranche of allotment approved by the Stakeholders Relationship and ESG Committee on May 8, 2025. The shares are being issued under the company's Employee Stock Option Plan and will eventually be transferred to eligible employees upon exercise of their options.
This is a routine ESOP allotment that results in minor dilution for existing shareholders. The shares are being issued to the ESOP Trust at ₹316.30, which is likely below current market price, reflecting the exercise price for employees. No material impact on stock price is expected as this was largely anticipated.