Kirloskar Oil Engines Allots Fully Paid-Up Equity Shares via ESOPs

The company’s capital surged due to recent allocations. Previously, 14,48,37,759 equity shares at Rs 2/share were valued at Rs 28,96,75,518

In an exchange filing, Kirloskar Oil Engines announced that it has issued 32,268 fully paid-up equity shares with a face value of Rs 2 each. These shares were allotted as a result of the exercise of employee stock options under the Kirloskar Oil Engines-employee stock option plan 2019. 

As a consequence of this recent allocation, there has been a notable surge in the issued and subscribed capital of Kirloskar Oil Engines. This significant shift is marked by a transition from the prior state, where the company’s capital was represented by 14,48,37,759 equity shares, each possessing a nominal value of Rs 2. This accumulation of shares aggregated to an overall capital value of Rs 28,96,75,518. However, in the wake of this development, a transformation has taken place, culminating in a revised count of 14,48,70,027 equity shares, all boasting a nominal value of Rs 2. This adjusted assemblage has now led to a cumulative capital value of Rs 28,97,40,054.

Source: HR Katha

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