MTAR Technologies Ltd. has approved the allotment of 1,35,000 stock options under its 2021 Employee Stock Option Scheme. Priced at ₹1,000 per option, the total value of the allotment stands at ₹13.5 crore. This move reflects the company’s commitment to employee retention and long-term value creation.
In a strategic decision aimed at strengthening employee engagement and aligning internal stakeholders with the company’s growth trajectory, MTAR Technologies Ltd. has announced the allotment of stock options worth ₹13.5 crore. The announcement was made following the Board of Directors meeting held on October 30, 2023, and disclosed to BSE Limited in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Highlights:
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ESOP Scheme Name: MTAR Employee Stock Option Scheme 2021
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Number of Options Allotted: 1,35,000
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Exercise Price per Option: ₹1,000
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Total Value of Allotment: ₹13,50,00,000
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Purpose: Incentivizing eligible employees and fostering long-term commitment
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Compliance: Disclosure made to BSE under SEBI Regulation 30
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Signatory: Naina Singh, Company Secretary and Compliance Officer
This ESOP issuance reinforces MTAR’s focus on nurturing talent and driving sustainable growth through strategic employee ownership.
Sources: Official disclosure by MTAR Technologies Ltd. to BSE Limited, dated October 30, 2023.