Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Companies / News/  Welspun announces allotment of 50,000 equity shares under ESOP scheme

Welspun Enterprises Ltd board's nomination and remuneration committee has approved the allotment of 50,000 equity shares on December 11, 2021, to the employees who exercised their options under its Employees Stock Option Plan 2017.

After the allotment on December 11, 2021, the equity share capital of Welspun stands at 1,490,140,560 (over 149 crore). The shares allotted against the options will be under lock-in till July 15, 2022.

"However, the grantee may directly or indirectly transfer 1/3rd of shares allotted to the grantee against the options exercised as are required to be transferred to meet the grantee’s liability for payment of the taxes arising on account of such exercise of options," the company said in a statement to the exchanges.

After July 15, 2022, the grantee may transfer 1/3rd of shares to meet the liability for payment of the taxes arising on account of such exercise of options, the company said. "The equity shares allotted shall rank pari passu in all respects, including dividend, with the existing equity shares of the company," Welspun said in a statement.

The Welspun Enterprises stock had closed at 99.55 (0.1 per cent down) on the NSE on Friday.

Also read: Welspun India to invest 800 crore to boost capacity to meet overseas demand

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 12 Dec 2021, 04:01 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App