Hero MotoCorp, an Indian multinational motorcycle and scooter manufacturer, recently made an announcement regarding the allocation of 9,285 shares to its employees.
The value of these shares is estimated to be Rs 18,570, with each share worth Rs 2. The distribution of these shares will be carried out among three different Employee Stock Option Plans and three Restricted Stock Unit Plans.
The allocation of these shares will be restricted to employees who have already availed of stock under the Employee Stock Option Plan – 2018, 2019, and 2020, and the Restricted Stock Unit Plan 2019, 2020, and 2021.
This allocation will have a significant impact on the company’s paid-up share capital, which is expected to increase to 19,98,39,718 equity shares worth Rs 39,96,79,436 after the allotment of these shares.
The company is one of the largest two-wheeler manufacturers in the world, as well as in India.
Hero Honda started its operations in 1984 as a joint venture between Hero Cycles of India and Honda of Japan.
In June 2012, Hero MotoCorp approved a proposal to merge the investment arm of its parent Hero Investment with the automaker. This decision came 18 months after its split from Hero Honda.
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