Mahindra Lifespaces, an infrastructure development company of Mahindra Group, has allotted 19,772 equity shares to its employees. The allotment is a part of the company’s utilisation of options granted under the employee stock options scheme 2012 (ESOS – 2012).
The shares will hold a nominal value of Rs 10. Furthermore, all equity shares allotted due to the execution of stock options will hold an equivalent status to the current equity shares of the company.
All shares will be fully paid-up, as stated in an official filing with the exchange.
Companies increasingly allocate ESOPs to foster a sense of ownership, aligning employees with the company’s growth and success. This enhances talent retention by providing a long-term incentive for skilled employees to remain with the organisation. Furthermore, ESOPs attract top-tier talent seeking both financial rewards and a stake in the company’s performance. By linking rewards to company achievements, ESOPs motivate employees to drive productivity and innovation.
Following this distribution, the company’s total issued equity capital has risen from Rs 155,09,88,620 to Rs 155,11,86,340, and the subscribed and paid-up equity capital has gone up from Rs 154,94,56,730 to Rs 154,96,54,450.
Founded in 1994, Mahindra Lifespaces is a real estate company with a mission to shape urban landscapes and enhance the quality of life. As a part of the Mahindra Group, the company focuses on creating sustainable living spaces that integrate modern amenities with environmental considerations. Their portfolio encompasses diverse segments such as residential, industrial, and integrated business cities, reflecting their dedication to building communities that thrive on well-being and connectivity.