Tamilnad Mercantile Bank Limited has informed the Exchange about the In-principle approval received from the Stock Exchanges for listing upto a maximum of 15,83,514 equity shares of Rs.10/- each to be issued under TMB ESOP 2024
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Tamilnad Mercantile Bank has received in-principle approval from both BSE and NSE on July 24, 2025, for listing up to 15,83,514 equity shares of Rs.10 face value each under the bank's Employee Stock Option Plan 2024 (TMB ESOP 2024). These shares will be allotted to employees when they exercise their stock options granted under the scheme. The in-principle approval is a preliminary regulatory clearance — the actual shares will be listed only after allotment and fulfilment of conditions like SEBI, RBI, and MCA approvals. At face value, the potential issuance represents about Rs.1.58 crore worth of equity, though the market value at allotment time will be higher.
This is a routine procedural step toward enabling employee stock options. It signals the bank is moving forward with its ESOP plan but does not immediately dilute existing shareholders — dilution happens only when employees actually exercise options. For the stock, this is a neutral-to-slightly-positive development reflecting employee incentive alignment.