Cholamandalam allots shares from employee stock options

Cholamandalam Investment and Finance Company Limited announced the allotment of 123,440 equity shares. This allotment stems from the exercise of employee stock options.

The nomination and remuneration committee of the company approved the allotment of these equity shares, each valued at Rs.2/- to employees who exercised their options under the employee stock option scheme. The company will now proceed with applying for the final listing of these newly allotted shares on both the NSE and BSE to finalize the issue formalities.

The communication, signed by P. Sujatha, company secretary, indicates the company's compliance with regulatory procedures. Investors and stakeholders are requested to take note of this development as the company moves to complete the listing process.