Leading bakery products maker Britannia Industries Ltd on Thursday said its Board has approved the allotment of equity shares to Varun Berry at an exercise price of Rs 870.35 per equity share under the Employee Stock Option Scheme (ESOS) as fully paid-up.
These equity shares are having a face value of Rs 2 each, diary products maker said in a statement.
In a filing to the Bombay Stock Exchange, the company informed, "The board of directors of the company by way of a circular resolution approved the allotment of equity shares of the company of face value of Rs 2 each to Varun Berry as under on exercise of options granted to him at an exercise price of Rs 870.35 per equity share under the Employee Stock Option Scheme (ESOS) as fully paid-up."
Further, the company said that the equity shares would rank pari passu with the existing equity shares of the company in all respects including dividend entitlement for the Financial Year 2014-15.
With this allotment the total paid-up capital of the company stands at Rs 23,99,51,630 (divided into 11,99,75,815 equity shares of Rs 2 each), it added.
Meanwhile, shares of the company were trading at Rs 2,593.40 apiece, down 0.29 per cent, from previous close on BSE at 10:33 hours.