On 20 December 2023, Oracle Financial Services Software (OFSS), a specialised subsidiary of Oracle Corporation focusing on financial and insurance technology, announced updates following a meeting of its employee stock option plan (ESOP) allotment committee. During this session, the company allocated 17,736 equity shares with a face value of Rs 5 each to eligible employees.
These allocations were made to those who had exercised their stock options under the OFSS Stock Plan 2023. The company communicated this development through an official exchange filing.
As a result of the recent allocation, the company’s overall invested capital has gone up to Rs 433,177,415. This capital is divided among shareholders in the form of 86,635,483 equity shares, each with a face value of Rs 5. This essentially means that the company’s total worth has increased, and shareholders now collectively own these equity shares.
The newly allocated equity shares will have equal standing with the company’s existing equity shares in every aspect.
OFSS specialises in providing extensive banking software solutions, including cloud-based services, payment solutions for banking, tools for revenue management, cloud infrastructure services, and applications for analysing financial services.
In October, OFSS granted 10,736 equity shares, valued at Rs 5 each, to eligible employees who had used their stock options from the 2014 OFSS stock plan. After this allocation, the company’s total invested capital had risen to Rs. 433,067,855, distributed among 86,613,571 equity shares, each with a face value of Rs 5.
