Cholamandalam allots shares to employees under ESOP scheme

Cholamandalam Investment and Finance Company Limited informed the National Stock Exchange of India Limited and BSE Ltd. about the allotment of 99,758 equity shares. This allotment is a result of employees exercising their stock options under the company's employee stock option scheme.

The nomination and remuneration committee of the company approved the allotment, with each equity share valued at Rs.2/-. This move is part of Cholamandalam's ongoing employee incentive programs designed to align employee interests with shareholder value.

The company further stated its intention to apply for the final listing of these newly allotted shares on both the National Stock Exchange (NSE) and BSE to complete all necessary issue formalities.