Mastek Ltd Allots 1,625 Equity Shares Under Employee Stock Option Plan; Paid-Up Capital Increases
Mastek Ltd has increased its paid up share capital following the allotment of equity shares to eligible employees who exercised their vested options under the company’s Employee Stock Option Plans (ESOP). The Board of Directors' Stakeholder's Relationship Committee approved the allotment of 1,625 Equity Shares, which are set to rank pari-passu with existing Equity Shares in all respects.The increase in capital pertains to shares allotted pursuant to ESOP Plan VI and ESOP Plan VII. These newly issued shares carry a face value of Rs. 5 each.
The allotment has updated the company's total share count and paid up capital. Prior to this issue, Mastek Ltd had 3,10,00,782 Equity Shares aggregating to Rs. 15,50,03,910. Following the issuance of the ESOP shares, the company’s share structure has been updated.
The financial details regarding the increase in paid up share capital are presented below:
| Financial Metric | Before Allotment | After Allotment |
|---|---|---|
| Total Equity Shares | 3,10,00,782 | 3,10,02,407 |
| Total Capital Value | Rs. 15,50,03,910 | Rs. 15,50,12,035 |
The shares allotted under the ESOP are identical in all respects to existing equity shares of the company and will continue to do so. The total issued share capital after this issue stands at Rs. 15,50,12,035.
Further details regarding the allotment include the exercise price and premium per share for different tranches of ESOPs:
| Tranche | Exercise Price Per Share (Rs.) | Premium Per Share (Rs.) |
|---|---|---|
| Plan VI | 5 | 0 |
| Plan VII | 188 | 183 |
MASTEK Stock Price Movement
Mastek Limited shares today slipped by 1.58% to settle at ₹1719.50, closing down ₹27.60. The stock saw a trading volume of 66,615 shares during the day.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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