Sona BLW Precision Forgings Limited announced the allotment of 11,936 equity shares to eligible employees under the company's Employee Stock Option Plan 2020 (ESOP Plan). This move follows the employees' exercise of vested options granted under the plan.
The newly issued shares have a face value of ₹10 each and are fully paid up. They will rank equally with the company's existing equity shares in terms of dividend entitlement and other rights.
Following this allotment, the issued and paid-up equity share capital of Sona BLW Precision Forgings has increased from ₹586.46 crore to ₹586.47 crore. The total number of equity shares now stands at 58,64,72,482.
This ESOP allotment demonstrates the company's commitment to rewarding and incentivizing its employees. By granting stock options, Sona BLW Precision Forgings aims to align the interests of its employees with the long-term growth and success of the company. This move also helps to attract and retain talent by providing employees with an opportunity to share in the company's prosperity.
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