Maruti Interior Products Limited disclosed the allotment of equity shares under its Employee Stock Option Plan (ESOP) following a board meeting held on 26th June 2026 from 11:30 AM to 1:00 PM.

Key Quantitative Figures

  • Number of shares allotted: 60,000 equity shares
  • Face value per share: ₹10
  • Exercise price per share: ₹10 (face value)
  • Premium per share: NIL
  • Total money realized: ₹6,00,000
  • Total issued shares after allotment: 60,460,000 shares
  • Total issued share capital after allotment: ₹60,40,00,000 (₹60.40 crore)
  • Options lapsed: 2,000 options (from original grant of 17,000 options)
  • Total options covered under scheme: 5,00,000 equity shares

Corporate Action Adjustment

The disclosure explains a significant adjustment made to the number of vested options due to a corporate action. The company had previously allotted additional shares through a rights issue in the ratio of 3 rights equity shares for every 1 share held.

Originally, 15,000 options had vested under the ESOP scheme. However, to maintain the total value to the employee of the options after the rights issue (as required by SEBI regulations and the ESOP 2023 provisions), and considering that the exercise price was fixed at face value (₹10) and could not be adjusted, the number of vested options was adjusted from 15,000 to 60,000. This adjustment was based on recommendations of the Nomination and Remuneration Committee.

Share Characteristics

  • The allotted shares are identical in all respects to existing shares
  • Shares rank pari passu with existing shares of the company
  • No lock-in provisions apply to these shares
  • No listing fees payable for this issuance

ESOP Scheme Terms (Annexure C)

  • Purpose: To motivate employees, reduce attrition, align employee interests with shareholder value, create ownership sense, and provide deferred rewards
  • Vesting period: 1 year from date of grant (as per grant letter)
  • Exercise period: Within 1 year from vesting date
  • Exercise price: Decided by Nomination and Remuneration Committee (₹10 for this allotment)

Company Address

Plot No 13 Survey No 236 Krishna Ind Estate, Veraval Tal. Kotda Sangani, Veraval, Gujarat, India