Through an exchange filing, Crompton Greaves Consumer Electricals offered equity shares to its employees. The company allotted 59,975 shares to its employees under its Employee Stock Option Plan 2016 (ESOP 2016).
The mentioned equity shares will have equal standing with the Company’s existing equity shares in every aspect. Additionally, all the shares will be of face value Rs 2 per share.
As a result of this allocation, the company’s issued capital hasn’t risen from 1,28,01,95,488, which was previously divided into 64,00,97,744 equity shares, each with a face value of Rs 2, to a new total of 1,28,03,15,438, divided into 64,01,57,719 equity shares, each still having a face value of Rs 2.
Crompton Greaves Consumer Electricals, is an Indian company specialising in consumer electrical products. As a subsidiary of the Avantha Group, the company boasts a rich heritage within the electrical industry.
Its diverse product portfolio encompasses a wide array of consumer electrical goods, spanning fans, lighting solutions, pumps, and small appliances tailored for both residential and commercial applications. Notably, the company excels in the ceiling fan market, offering an extensive range of models, including energy-efficient and designer options. In addition to fans, Crompton provides lighting solutions, including LED bulbs and tube lights.
The company also produces water pumps, which are used for various applications, including domestic and agricultural purposes.
Recently, the company appointed Shantanu Khosla as the executive vice chairman for one year starting from 1 May, 2023, until 30 April, 2024. Afterward, he will assume the role of ‘non-executive vice chairman’ until 31 December, 2025.