Allotment of equity shares pursuant to exercise of Employee Stock Options.
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Tech Mahindra's Securities Allotment Committee has approved the allotment of 1,12,907 equity shares of Rs. 5 each to employees who exercised their stock options. This includes 54,534 shares under the ESOP 2014 plan and 58,373 shares under the ESOP 2018 scheme. The shares were issued at par value of Rs. 5 per share with no premium. After this allotment, the total issued share capital stands at Rs. 4,89,97,70,795 consisting of 97,99,54,159 equity shares. The newly allotted shares rank pari passu with existing equity shares.
This is a routine corporate action resulting in minimal dilution of approximately 0.12% for existing shareholders. The exercise of employee stock options at par value suggests these were long-term options granted at face value, which is a standard retention mechanism for employees.