According to reports from Business Standard, Jagsonpal Pharmaceuticals has allotted 27,950 equity shares of ₹2 each under JPL ESOP 2022 to eligible employees upon exercise of vested options. The shares will rank pari-passu with existing equity shares of the company in all respects.
As reported by Business Standard, the allotment has resulted in an increase in the company's paid-up share capital from ₹13,18,58,940 (constituting 6,59,29,470 equity shares of ₹2 each) to ₹13,19,14,840 (constituting 6,59,57,420 equity shares of ₹2 each). This represents a net increase of 27,950 shares in the company's total share capital.
According to Business Standard, the allotment represents the company's employee stock option plan exercise, demonstrating the company's commitment to rewarding its workforce through equity participation. The pari-passu ranking ensures these new shares maintain the same rights and privileges as existing equity shares in the company.
