Nykaa, an India-based beauty and fashion retailer, has recently allotted equity shares to its employees. The announcement reflects in a regulatory filing mentioning that these shares will have a face value of Rs 2.
As per the filing, the company has allocated 1,87,500 equity shares to its employees under the Employee Stock Option Scheme – 2017. Moreover, following this allotment, the paid-up capital of Nykaa has experienced a significant increase, reaching a total of Rs 285,26,85,620.
This subsequent increase in capital signifies the infusion of additional funds into the company, which can be utilised for various purposes such as expansion, technology development, marketing, and overall business growth.
This move not only demonstrates Nykaa’s commitment to rewarding and incentivising its workforce but giving them the opportunity to participate in the company’s growth and success.
Following the same steps, Axis Bank has also made an announcement regarding the allotment of equity shares to its employees. According to an exchange filing, the bank allocated 2,13,903 equity shares with a face value of Rs 2 each to its employees as part of the stock option program.
Following this allocation, the share capital of Axis Bank has witnessed an increase, reaching a total of Rs 615,37,04,024. In terms of market performance, Axis Bank’s shares closed at Rs 833.65 on Tuesday, reflecting a slight increase of 0.036 percent.
Furthermore, the total value of these shares amounts to Rs 4,27,806, highlighting the bank’s commitment to employee participation in the growth of the organisation.