Tamilnad Mercantile Bank Limited announced the outcome of a circular resolution passed by its Board of Directors on November 4, 2026. The resolution approved the allotment of equity shares under the bank's Employee Stock Option Plan 2024 (TMB ESOP 2024).
Allotment Details
The Board approved the allotment of 2,364 equity shares of ₹10 each to employees who exercised their stock options under TMB ESOP 2024. The allotment was made on the terms and conditions placed before the Board.
Capital Structure Impact
Following this allotment, the bank's issued, subscribed, and paid-up equity share capital has increased from 15,83,51,454 equity shares to 15,83,53,818 equity shares of ₹10 each. The total issued share capital after this issue stands at ₹1,58,35,38,180.
Share Specifics
- Date of issue: November 4, 2026
- Number of shares issued: 2,364 equity shares
- Par value: ₹10 per share
- Distinctive numbers: From 15,83,51,455 to 15,83,53,818
- Exercise price: ₹10 per share (no premium)
- Lock-in: No lock-in after allotment
- Status: Shares will rank pari-passu with existing equity shares including payment of dividend
Breakdown of Allotment
The 2,364 equity shares were allotted under two categories:
- 1,353 equity shares of ₹10 each
- 1,011 equity shares of ₹10 each
The disclosure was signed by Swapnil Yelgaonkar, Company Secretary & Compliance Officer of Tamilnad Mercantile Bank Limited.