One 97 Communications allotted 499,877 equity shares to employees upon exercise of stock options under its ESOP 2019 scheme.
The company's paid-up share capital increased from ₹64.16 crore to ₹64.21 crore following the allotment.
The shares were issued at an exercise price of ₹9 per share, representing a premium of ₹8 over the face value of ₹1.
The newly allotted shares will rank pari-passu with existing equity shares and carry no lock-in period.