Pidilite Industries has allotted 89,340 equity shares of face value Re.1 each in the share capital of the company for cash at par to eligible employees who exercised their stock options under ESOP-2016. According to reports from Business Standard, this allotment represents the company's continued employee stock option program participation.
Following the allotment of these equity shares, the share capital of the company has increased from 1,017,790,348 to 1,017,879,688 shares. As reported by Business Standard, this represents a net increase of 89,340 shares in the company's total share capital structure.
The allotment is part of the company's Employee Stock Option Plan (ESOP-2016), which provides eligible employees with the opportunity to acquire company shares through stock option exercises. According to Business Standard, this represents the company's ongoing commitment to employee retention and motivation through equity participation programs.
