Zensar Technologies Limited has informed the Exchange about Shareholders meeting
ZENSARTECH · price
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Zensar Technologies has sent a Postal Ballot notice to shareholders seeking approval (via remote e-voting) for four special resolutions related to a new employee stock option plan called 'Zensar - ESOP 2025'. The scheme proposes to create and grant up to 33,70,000 stock options, convertible into an equal number of equity shares of face value Rs. 2 each, to eligible employees of the company and its unlisted subsidiaries. Unlike a typical ESOP, shares will be sourced from the secondary market (not fresh issuance) through a new irrevocable trust called 'Zensar Employees Welfare Trust'. The company may provide interest-free loans of up to 5% of its paid-up share capital and free reserves to the trust to fund the share purchases. E-voting is open from June 25, 2025 to July 24, 2025, with results expected by July 28, 2025.
For shareholders, this is a non-dilutive ESOP since shares will be bought from the open market rather than issued fresh, meaning no immediate equity dilution. However, the company will deploy up to 5% of its capital and free reserves as a loan to the trust, which is a use of company cash. The trust's holding will be classified as non-promoter, non-public, slightly reducing the public float and reported free-float metrics.