Greaves Cotton allots over 2.76 lakh equity shares under ESOP; Stock sheds 3%

8 Feb 2022 , 03:00 PM

Greaves Cotton Ltd has informed that the Nomination and Remuneration Committee of the Board of Directors of the Company at its meeting held on February 07, 2022 has approved allotment of 2,76,807 equity shares of Rs2/- each pursuant to exercise of 2,76,807 Stock Options at an exercise price of Rs. 2/- each amounting to Rs. 5,53,614/- by the option grantee under ‘Greaves Cotton — Employee Stock Option Plan 2020’.

The said equity shares shall rank pari-passu with the existing equity shares of the Company in all respect, said Greaves Cotton.

Consequently, the Issued, Subscribed and Paid up Capital of the Company stands increased to Rs. 46,30,42,584/- comprising of 23,15,21,292 equity shares of face value of Rs. 2/- each.

At around 3:01 PM, Greaves Cotton was trading at Rs202.45 apiece down by Rs6.5 or 3.11% against previous closing of Rs208.95 apiece on the BSE.