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 1,87,644 equity shares of Re. 1 face value to eligible employees under its ESOS 2008 scheme, upon exercise of stock options. The shares were issued across three tranches: Tranche 13 (1,29,561 shares at Rs. 20), Tranche 14 (7,083 shares at Rs. 22), and Tranche 15 (51,000 shares at Rs. 27.14), bringing in a total of around Rs. 41.31 lakh to the bank. After this allotment, the bank's issued and subscribed share capital has risen to Rs. 261.67 crore, comprising 261.67 crore equity shares of Re. 1 each.
This is a routine employee stock option allotment with a small dilutive impact on existing shareholders. The share count increase is minor and the funds raised are negligible, so there is no material effect on the stock price.