Monarch Networth Capital Allots 40,000 ESOP Shares Through Employee Welfare Trust
Monarch Networth Capital Limited has finalized the allotment of equity shares under its Employees Stock Options Scheme - 2021. The company announced the allocation of 40,000 Equity Shares to the Monarch Networth Capital Limited Employees Welfare Trust (ESOP Trust).The decision, made by the company's Nomination and Remuneration Committee, specified that the shares were issued at a face value of Rs. 10/- each and were fully paid-up at the same price point. This allotment pertains to the MNCL ESOS-2021 scheme.
These newly allotted equity shares are intended for transfer to eligible employees upon the exercise of stock options granted under the aforementioned Scheme. The company confirmed that these shares will rank pari passu in all respects with the existing equity shares of Monarch Networth Capital Limited.
The allotment resulted in a significant increase in the issued, subscribed, and paid-up equity share capital of the Company.
The financial details following the allotment are as follows:
| Financial Metric | Details |
|---|---|
| Allotted Shares (ESOP) | 40,000 Equity Shares |
| Face Value per Share | Rs. 10/- |
| Total Issued Shares after Issue | 79,308,338 |
| Total Issued Capital | Rs. 79,30,83,380/- |
Monarch Networth Capital Limited stated that the shares issued are equivalent in all respects to existing equity shares of the Company and that any eligible employees will benefit from them after the options are exercised.
MONARCH Stock Price Movement
Monarch Networth Capital Limited shares slipped in trading today, closing at ₹330.05 after shedding 2.74%. The stock settled near its day low of ₹326.1 amid a volume of 62,685 shares.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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