Welspun announces allotment of 50,000 equity shares under ESOP scheme
1 min read 12 Dec 2021, 03:55 PM ISTThe shares allotted against the options will be under lock-in till July 15, 2022.
PremiumWelspun 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
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