Key Quantitative Figures
The company allotted 28,187 equity shares of a face value of ₹2 each. The exercise price per share was ₹2, resulting in a total money realized of ₹56,374. The distinctive numbers of the allotted shares range from 48,80,76,501 to 48,81,04,687. The ISIN for the shares is INE1VXE01018.
Post this allotment, the total number of issued shares is 48,81,04,687, and the total issued share capital is ₹97,62,09,374.
Parties Involved
The disclosure is made by STL Networks Limited. The scheme, SP-ESOS 2025, was formulated pursuant to a Scheme of Arrangement between Sterlite Technologies Limited (the "Demerged Company") and STL Networks Limited (the "Resulting Company"). The letter is signed by Meenal Bansal, Company Secretary and Compliance Officer (Membership No. ACS 35091). The company's shares are listed on BSE Limited (Scrip Code: 544395) and the National Stock Exchange of India Limited (Scrip ID: STLNETWORK).
Purpose / Rationale
The Special Purpose Employee Stock Option Scheme- 2025 was formulated pursuant to Clause 10 of the Scheme of Arrangement with Sterlite Technologies. Its purpose is to "restore the value by making fair and reasonable adjustment to the Options granted under 'ESOP Schemes' of the Demerged Company to the eligible Employees." Pursuant to the demerger, each eligible employee was granted one option under this new scheme for every one option they held in the demerged company.
Capital Structure Impact
The allotment increases the total number of issued shares. The financial impact of the transaction is the receipt of ₹56,374 by the company. The disclosure states that the diluted earnings per share (EPS) remain unaffected as the quantity of shares allotted is negligible. The newly allotted shares are identical in all respects to the existing shares of the company. There are no lock-in restrictions on the allotted shares.