SBI Card rewards its employees with 1,12,960 equity shares

Through this initiative, employees are granted the opportunity to acquire company shares at a fixed exercise price of Rs 152.10 per share, while the individual face value of each equity share remains Rs 10

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On July 24, 2023, SBI Card, a renowned financial company, revealed that it has granted 1,12,960 equity shares to its employees as part of the SBI Card employee stock option plan 2019. This initiative allows employees to purchase company shares at a predetermined exercise price of Rs 152.10 per share. Each of these equity shares has a face value of Rs 10.

As a result of this allotment, the total paid-up capital of the SBI Card has experienced a significant increase. Prior to the issuance, the paid-up capital amounted to Rs 9,46,36,00,990, which was constituted by 94,63,60,099 equity shares with a face value of Rs 10 each. However, after the recent allotment, the paid-up capital now stands at Rs 9,46,47,30,590, consisting of 94,64,73,059 equity shares with a face value of Rs 10 each.

This move by SBI Card aims to incentivise and reward its dedicated employees by providing them with an opportunity to own a stake in the company’s growth and success. By participating in the employee stock option plan, employees have the chance to benefit from the potential appreciation of the company’s stock value over time.

The issuance of additional equity shares not only strengthens the company’s relationship with its employees but also has implications for its overall financial structure and ownership distribution. With an expanded capital base, SBI Card may enhance its capacity to undertake new projects, expand operations, and explore potential avenues for growth and diversification.

 

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