Marico has distributed 1,10,700 equity shares to employees via employee stock option plans (ESOP). It has allocated these shares at a face value of one rupee each to its eligible employees.
This allocation is part of the company’s ESOP 2016 schemes and has been executed in conformance to the exercise of stock options. The official announcement came through a filing with the stock exchange on 14 August, 2023.
Each of the recently allotted equity shares holds a face value of Rs 1. The move has brought about an increase in the company’s paid-up share capital. Prior to the allocation of these equity shares, the company’s share capital consisted of 1,29,32,17,818 equity shares, each valued at Rs 1, that is, Rs 1,29,32,17,818 in total. With this recent allotment, this figure have risen to 1,29,33,28,518 equity shares, again valued at Rs 1 each, totalling to Rs 1,29,33,28,518.
Interestingly, the progressive company — known for its unique culture of trust and transparency — has never been kept an eye on for over three decades. Therefore, even during the pandemic, the workforce was extremely efficient, and in fact, more productive while working remotely.
The Indian multinational enterprise specialises in consumer goods, and offers a wide range of products in the domains of health, beauty and wellness. With its headquarters in Mumbai, Marico maintains a significant presence in more than 25 nations across Asia and Africa.
