PI Industries Ltd allots 551040 Equity Shares and Grant of fresh options under Company's ESOP Scheme

The members of the Compensation Committee of the Board of PI Industries Ltd on October 15, 2015 have approved the allotment of 551,040 equity shares of Re. 1/- each to Pll ESOP Trust (Trust), set up to administer Company's ESOP Plan. The Trust would allocate these equity shares to employees of the Company and its subsidiary on exercise of stock options. The aforesaid equity shares have been Issued at respective exercise price in different grants made to the employees of the Company.

Pursuant to above allotment, the paid up equity share capital of the Company stands increased to 13,71,27,222 equity shares of Re. 1/- each.

The Board approved the grant of 2,72,850 options to various employees eligible under the Company's ESOP Plan at an exercise price of Rs. 613/- which has been calculated by giving 10% discount to the closing market price of the Company's equity share on National Stock Exchange of India on October 14, 2015.

Shares of P.I.INDUSTRIES LTD. was last trading in BSE at Rs.669.1 as compared to the previous close of Rs. 684.3. The total number of shares traded during the day was 8740 in over 588 trades.

The stock hit an intraday high of Rs. 684.2 and intraday low of 663.5. The net turnover during the day was Rs. 5870001.

Source : Equity Bulls

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