On July 18, 2023, ICICI Securities made a significant announcement regarding the allocation of 4,920 equity shares to its employees as part of the ICICI Securities- employees stock option scheme – 2017.
This decision was disclosed through an official exchange filing, indicating the company’s commitment to rewarding its workforce with ownership in the company.
The equity shares allotted to the employees have a nominal or face value of Rs 5 each. This means that each share represents a stake in the company valued at Rs 5, which will enable employees to benefit from the company’s performance and growth.
As of 3:30 pm IST on July 17, 2023, the market value of ICICI Securities’ shares was recorded at Rs 615.10. This price reflected a slight increase of 0.40 percent from the previous trading session. Such upward movement in share price indicates positive market sentiment and confidence in the company’s future prospects.
The issuance of these equity shares to employees is a strategic move by ICICI Securities to align the interests of its workforce with that of the company’s shareholders. Through this ESOP, employees have the opportunity to become shareholders themselves, fostering a sense of ownership and motivating them to contribute to the company’s growth and success.