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 35,965 Stock grants equivalent to 35,965 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 35,965 Equity shares on April 22, 2016 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 178,008,374 Equity shares of Rs.2/- each.