On 11 December 2023, Uno Minda reported that the nomination and remuneration committee of the board had given approval for the issuance of 34,882 equity shares with a face value of Rs 2 each.
Uno Minda is a manufacturer of proprietary automotive solutions and systems that supplies to original equipment manufacturers (OEM) as a Tier-1 supplier.
This allotment is a result of the grantees exercising their options under the Uno Minda employee stock options scheme (ESOP), 2019. The company made this announcement through a resolution circulated via an exchange filing.
As a result of the exercise of options under the Uno Minda employees stock option scheme, 2019, the company’s paid-up equity share capital has increased from Rs 114,63,68,444 to Rs 114,64,38,208, as per the Securities and Exchange Board of India (SEBI) regulations.
This information is in compliance with the provisions outlined in Regulation 30 of the SEBI listing obligations and disclosure requirements (LODR) regulations, 2015. This regulation pertains to the disclosure of events or information that could have a material impact on the company’s business, operations, or financial position and is intended to ensure transparency and timely dissemination of such crucial information to the public and investors.
It is important to note that the allotment of shares is not considered material to the company, as mentioned in the regulatory filing.
The company is currently in the process of seeking listings for these shares on the NSE and BSE stock exchanges.