The Hi-Tech Gears Limited has informed the Exchange regarding Allotment of 20330 Equity Shares.
HITECHGEAR · price
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The Hi-Tech Gears Limited has allotted 20,330 equity shares to eligible employees who exercised their stock options under the company's Stock Incentive Plan, 2021. The shares were issued at an exercise price of Rs. 10 each, matching the face value, with no premium charged. This raises the company's paid-up equity capital from Rs. 18.79 crore to Rs. 18.81 crore, with total shares rising from 1,87,93,217 to 1,88,13,547. The new shares will rank equally with existing shares and carry no lock-in restrictions.
This is a routine ESOP allotment with a very small dilution of just about 0.01% to the existing share base, so it is unlikely to have any meaningful impact on the stock price or shareholder value.