Northern Arc Capital has completed the allotment of 1,44,000 equity shares under its employee stock option plan. According to reports from Business Standard, the shares have a face value of ₹10 each and were allotted to option grantees who had exercised their options under the Northern Arc Capital ESOP Plan 2016 and ESOP schemes framed thereunder.
The allotment has resulted in an increase in the company's paid-up equity share capital. As reported by Business Standard, the paid-up equity share capital of the company will stand increased from ₹161,66,38,750 (16,16,63,875 shares of ₹10 each) to ₹161,80,78,750 (16,18,07,875 shares of ₹10 each).
The allotment represents a significant corporate action for Northern Arc Capital, demonstrating the company's commitment to employee retention and incentive programs. According to Business Standard, this ESOP allotment reflects the company's approach to rewarding key personnel through equity-based compensation structures.
