Tata Motors has allotted 3,06,071 Equity / Ordinary Shares of the face value of Rs 2/-, fully paid up under the scheme to the eligible Tata Motors employees pursuant to the exercise of 1,69,991 performance share units and 1,36080 stock options at a price of Rs 2 /- and Rs 338/- per share, respectively.
Following Tata Motors Shares allotment, the company’s paid-up equity share capital has increased from Rs 7,76,38,98,198 to 7,36,45,10,315. This is the total number of ordinary shares has also increased to 3,68,20,16,405.
FAQ
what is ESOP
ESOP Means Employee Stock Ownership Plan. This type of employee benefit plan gives employees an ownership interest in the company they work for.
Tata Motors is to turn its employees into part-owners. This is done by granting them the right to acquire a share of the company’s stock, often at a predetermined price that is lower than the current market value.