The Allotment Committee of Tata Motors Passenger Vehicles Limited approved the allotment of 52,771 equity shares of face value ₹2 each, fully paid up, under the Tata Motors Passenger Vehicles Limited Share-based Long Term Incentive Scheme 2021. The shares were allotted at an exercise price of ₹2 per share pursuant to the exercise of 52,771 Performance Share Units by eligible employees.
Consequent to this allotment, the paid-up equity share capital of the company has increased from ₹7,36,64,61,785 (divided into 3,68,29,92,140 equity shares of ₹2 each) to ₹7,36,65,67,327 (divided into 3,68,30,44,911 equity shares of ₹2 each). This calculation considers the amount of subscribed share capital plus shares forfeited less calls in arrears.
The newly allotted equity shares will rank pari-passu in all aspects with the existing equity shares of the company. The allotment complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following in-principle approvals granted by NSE and BSE in September 2021.
Additional Announcements:
No additional corporate updates were included in this filing.