Tech Mahindra rewards employees shares worth Rs. 7 L as stock options

On December 21, 2022, Tech Mahindra announced that it will allot shares
worth Rs 7,58,450 rupees as employee stock option through an exchange
filing. Under two schemes ESOP 2014 and ESOP 2018, 1,51,690 equity shares
worth Rs 5 each will be divided.
The total number of shares issued after this new issue is 973,778,993, which is
worth Rs 4,868,894,665.
The company announced its partnership with Airtel, earlier this month, to
enable a private 5G network at Mahindra’s Chakan facility.
Tech Mahindra rewarded its employees with shares worth over 6 lakh rupees
as stock options on December 12, 2022.
As of Wednesday, Tech Mahindra shares were at Rs 1,027.20, up by 0.91 per
cent.
Tech Mahindra is part of the Mahindra Group. The company is headquartered
in Pune and has its registered office in Mumbai. It is an Indian multinational
information technology services and consulting company. Tech Mahindra has
over 158,000 employees across 90 countries.