Marico has given 94,100 equity shares, each worth Re 1, through various ESOP 2016 plans. As per the company’s filing on 14 December, 2023, these shares were awarded to eligible recipients after exercising stock options.
Marico, based in Mumbai, is an Indian multinational enterprise that specialises in consumer goods and offers a wide range of products in the domains of health, beauty, and wellness. Marico maintains a significant presence in more than 25 nations across Asia and Africa.
The company now has more shares, going from 129,37,39,508 shares to 129,38,33,608 shares, and each share is worth Re. 1. This increases the total value of the shares from Rs. 129,37,39,508 to Rs. 129,38,33,608.
Additionally, all shares issued through the stock option exercise will have the same status as the company’s existing shares.
In August, Marico distributed 1,10,700 equity shares to employees via employee stock option plans (ESOP). It has allocated these shares at a face value of one rupee each to its eligible employees.
Marico is a very forward-thinking company, recognised for its distinctive culture of trust and transparency, that has gone unnoticed for more than three decades.
Consequently, even amid the pandemic, the employees remained highly efficient and, in fact, showed increased productivity while working remotely.
