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The board of directors of Sudarshan Chemical Industries Ltd on Monday approved the grant of 394,220 stock options convertible into 394,220 equity shares of ₹2 each, at a price of ₹349.35 a share.
The allotment has been made under Sudarshan Employee Stock Option Scheme 2018 – ‘Performance Scheme’. These options need to be exercised within a maximum period of five years from the date of vesting of such options, the company said in a notice to the stock exchanges.
The company had reported a profit of ₹27.45 crore and revenues of ₹387.80 crore for the quarter ended December 2019.
Shares of Sudarshan Chemicals on Monday closed at ₹367.10, up 4.8 per cent, over the previous day’s close.
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