Uno Minda, a global manufacturer in proprietary automotive solutions, recently declared the issuance of 55,600 equity shares to its employees. The move comes subsequent to the activation of options within the Uno Minda Employee Stock Option Scheme 2019.
Approved by the company’s Nomination & Remuneration Committee on 13 March, 2024, these shares have a nominal value of Rs 2 each. As a result of this allotment, the company’s paid-up equity share capital has risen from Rs 1,14,80,77,950 to Rs 1,14,81,89,150. Uno Minda emphasised that while this allotment is notable, it does not meet the threshold for materiality as defined by regulatory standards.
Furthermore, the company is presently in the process of seeking listing these shares on the NSE and BSE stock exchanges.
Each share was issued at an exercise price of Rs 325 with a premium of Rs 323 per share. According to a media release by the company, a total of 55,600 equity shares were allotted, which includes 27,800 shares provided as bonus shares.
Uno Minda Group, with over six decades of experience, specialises in manufacturing a wide range of components for automobiles. It offers products such as switches, lighting systems, horns, automotive batteries and other electrical components, catering to various vehicle segments including two-wheelers, passenger vehicles, commercial vehicles, and off-road vehicles.
The company has a strong focus on innovation, quality and customer satisfaction. Additionally, the company’s global presence extends across multiple countries, serving both domestic and international markets. Through continuous research and development, it remains committed to providing cutting-edge solutions to the automotive industry.
