PRAJ INDUSTRIES LTD. - Allotment of Equity Shares

Praj Industries Ltd has informed BSE that, pursuant to the provisions of the Praj Employee Stock Option Plan 2011, some of the option grantees have exercised 1,46,330 Stock grants equivalent to 1,46,330 Equity shares of face value Rs. 2/- each of the Company.<BR><BR>Accordingly, the duly authorised Compensation & Share Allotment Committee of the Board of Directors of the Company has allotted 1,46,330 Equity shares on February 24, 2017 at an exercise price of Rs. 55.75 per Equity share to the option grantees in terms of Praj Employee Stock Option Plan 2011.<BR><BR>Consequently, the issued, subscribed and paid- up share capital of the Company stands increased to 179,202,676 Equity shares of Rs.2/- each.