Stocks

Tilaknagar Industries allots 9 lakh shares for ESOP

Our Bureau Mumbai | Updated on July 30, 2021

The paid-up capital increased to ₹1,40,27,76,090

Tilaknagar Industries, one of the leading alcoholic beverage manufacturers, has alloted 9,39,254 equity shares to eligible employees under the employees’ stock ownership plan (ESOP) schemes.

Post-allotment, the paid-up capital of the company increased to ₹1,40,27,76,090 from ₹1,39,33,83,550.

The employees have benefited under the company’s ESOP schemes 2010 and 2012, and can exercise their stock options within two years from the respective vesting dates. Prior to this allotment, the most recent grants under these schemes were given to the company’s employees on May 27 at minimum exercise price of ₹32 per share.

Amit Dahanukar, Chairman, Tilaknagar Industries said the grant of ESOP covers all employees across the organisation right from CXO to shop floor workers.

This initiative, therefore, aims to motivate, retain, and reward employees who have contributed significantly to the growth and profitability of the organisation, he said.

The equity shares so allotted shall rank pari-passu in all aspects with the existing equity shares of the company and be listed on the NSE and BSE.

Led by strategic debt-restructuring, Tilaknagar Industries, the maker of the famous Mansion House Brandy, has witnessed a complete financial turnaround since March 2020. Steep decline in finance costs and better operational performance has had a huge positive impact on the company’s financial performance in the previous financial year.

Shares of the company was trading at ₹41 on Friday.

Published on July 30, 2021

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