Grasim Industries said that the stakeholder's relationship committee of the board of directors of the company has approved allotment of 1,833 equity shares of Rs 10 a share of the company upon exercise of stock options under the company's employee stock option & scheme, 2006.
These shares shall rank pari passu with the existing equity shares of the company in all respects and shall be subject to the provisions of the memorandum and articles of association of the company.
Consequent to the above allotment, the equity share capital of the company stands increased to 9,18,45,805 equity shares of Rs 10 a share aggregating to Rs 91,84,58,050.
Shares of the company declined Rs 7.1, or 0.19%, to trade at Rs 3,699.65. The total volume of shares traded was 2,805 at the BSE (1.52 p.m., Tuesday).