The South Indian Bank Limited has informed the Exchange regarding Allotment of Equity Shares under SIB ESOS Scheme 2008
SOUTHBANK · price
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The South Indian Bank has allotted 72,488 equity shares to eligible employees who exercised their stock options under the SIB ESOS Scheme 2008. The shares come from three tranches: 50,383 shares from Tranche 13 at Rs. 20 per share, 2,290 shares from Tranche 14 at Rs. 22 per share, and 19,815 shares from Tranche 15 at Rs. 27.14 per share. The bank received a total of about Rs. 15.96 lakh as exercise consideration. Following this allotment, the bank's issued and subscribed share capital has increased to Rs. 261.76 crore, comprising 261.76 crore equity shares of Re. 1 each.
This is a routine ESOS allotment with a very small dilution (72,488 shares on a base of over 261 crore shares, i.e. negligible). No meaningful impact on share price or shareholder value is expected.