Indiabulls Financial Services allots shares to employees, IBFSL Employees Trust

Indiabulls Financial Services Ltd has announced that the Board of Directors of the Company at its meeting held on March 30, 2007 has allotted:

a. 12,00,000 Equity Shares of Rs 2 each to certain employees; and

b. 24,00,000 Equity Shares of Rs 2 each to 'IBFSL Employees Trust' which has been nominated by such employees to receive and hold such equity shares, for their benefit.

Such allotments were pursuant to exercise of the right to accelerated vesting of stock options under the Employee Stock Option Plan 2004 by the aforesaid employees of the Company.

Source : Equity Bulls

Keywords