On 4 October 2023, Godrej Industries announced its employee stock grant scheme, 2011 (ESGS 11). The nomination and remuneration committee of the board of directors of the company granted approval for the allotment of 1,452 equity shares with a face value of Re 1 each under this scheme. These shares were issued at an exercise price of Re 1 per equity share and are considered fully paid-up.
Godrej Industries serves as the flagship holding entity within the Godrej Group, overseeing a diverse portfolio of investments in various sectors. This includes substantial involvement in consumer products, real estate, agriculture, chemicals, and financial services through its subsidiary and associate firms, spanning across 18 different nations.
The exercise of these 1,452 grants results in the company realising a sum of Rs 1,452 .
Effective from 4 October, 2023, the issued, subscribed and paid-up equity share capital of the company has seen a substantial increase. It now stands at Rs 33,66,90,028, divided into 33,66,90,028 equity shares, each with a face value of Re 1. This capital infusion is expected to have implications for the company’s financial stability and future growth prospects.
However, it’s worth noting that the market responded to this development on 4 October, 2023, with the shares of Godrej Industries trading at Rs 584.90 per share, marking a slight decline of 0.86 per cent.