M&B Engineering Limited Allots 12,503 Shares under Employee Stock Option Plan 2024
M&B Engineering Limited has approved the allotment of equity shares to eligible employees through its 'M&B Engineering Limited Employee Stock Option Plan 2024' (ESOP 2024). The Board of Directors sanctioned the allocation of 12,503 Equity Shares to the employees who exercised their stock options granted under the plan.The issued shares have a face value of Rs. 10/- each. These newly allotted securities are intended to rank pari passu with the company's existing equity shares in all respects. The transaction resulted in an aggregated issuance value of Rs. 24,56,839.50 for the 12,503 Equity Shares.
This allotment is part of the company’s ongoing capital structure updates related to its Employee Stock Option Plan 2024.
Key details regarding the share allotment and post-issue status are presented below:
| Particular | Detail |
|---|---|
| Type of Security | Equity Shares of Rs. 10/- each |
| Issuance Purpose | Allotment pursuant to ESOP 2024 |
| Total Shares Allotted | 12,503 Equity Shares |
| Allotment Price per Share | Rs. 196.50 |
| Aggregated Value of Issue | Rs. 24,56,839.50 |
In addition to the current issuance, the company confirmed that following this allotment, its total issued shares stand at 5,71,60,718 Equity Shares. Consequently, the total issued share capital after this issue is reported as Rs. 57,16,07,180.
The company also specified details concerning the newly allotted shares, noting that they are identical and pari passu in all respects to the existing equity shares of M&B Engineering Limited.
MBEL Stock Price Movement
As of 1:20 PM, shares of M & B Engineering Limited are shedding 3.52% in live trading, currently hovering at ₹288 after dropping ₹10.50. The stock has experienced high activity today with a volume of 787,607 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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