Cholamandalam Investment and Finance Company Limited has made a regulatory disclosure to the National Stock Exchange of India Limited and BSE Ltd. regarding the allotment of equity shares under its Employee Stock Option Scheme (ESOP).
The Nomination and Remuneration Committee of the Company approved the allotment of 1,20,202 equity shares to eligible employees. These shares have a face value of Rs. 2/- each and were allotted pursuant to the exercise of options granted under the company's employee stock option scheme.
The company will now make an application for listing and trading approval of these newly allotted shares on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The disclosure states that the company will complete all related post-allotment formalities in due course.
This disclosure represents a routine capital market communication regarding employee stock compensation and subsequent listing requirements.