Tata Motors allots 30,831 shares under ESOP scheme
1 min read . Updated: 11 Jan 2023, 01:21 PM IST
Premium- Meanwhile, the company has also completed the acquisition of Ford India's manufacturing plant at Sanand through its subsidiary.
Tata Motors on 10 January announced that the company has approved the allotment of 30,831 ordinary shares under Employees Stock Option Plan Scheme (ESOP) at an exercise price of ₹345 per share.
In a regulatory filing, it said, “we wish to inform you that the allotment committee of the company has, approved allotment of 30,831 Ordinary Shares of the face value of ₹2 each under the Scheme to the eligible employees pursuant to exercise of stock options at an exercise price of ₹345 per share."
As per the company statement, consequent to the aforesaid allotment, the paid-up ordinary share capital of the Company stands increased from ₹664,30,57,973 divided into 332,12,90,234 ordinary shares of ₹2 each to ₹664,31,19,635 divided into 332,13,21,065 ordinary shares of ₹2 each (considering the amount of subscribed share capital plus shares forfeited less calls in arrears).
The aforesaid ordinary shares shall rank pari passu in all aspects with the existing Ordinary Shares of the Company.
Meanwhile, the company has also completed the acquisition of Ford India's manufacturing plant at Sanand through its subsidiary, the company informed on Tuesday.
Last year, the company informed about the acquisition noting Tata Passenger Electric Mobility Ltd (TPEML) would acquire Gujarat-based Ford India Pvt Ltd's (FIPL) for ₹725.7 crore. With the fulfilment of the necessary conditions, including receipt of relevant regulatory approvals, the parties have completed the transaction and TPEML has acquired the Sanand property and the vehicle manufacturing plant and machinery, Tata Motors said in a regulatory filing.
The acquisition included the entire land and buildings, vehicle manufacturing plant along with machinery and equipment and transfer of all eligible employees of FIPL's vehicle manufacturing operations at Sanand.
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