GMM Pfaudler approves ESOP Program for Key Employees
Source: IRIS | 09 Dec, 2021, 06.04PM
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GMM Pfaudler, a leading supplier of engineered equipment and systems for applications in the global chemical and pharmaceutical markets, announced an Employee Stock Option Plan (ESOP) program for key employees across all geographies with a view to ensure employee alignment and retention.
The ESOP program which has been approved by the Shareholders of the Company on December 2, 2021, envisages granting of 51,161 stock options representing ~0.35% of the total paid-up share capital of the Company.
Speaking on this initiative, Tarak Patel, Managing Director, GMM Pfaudler said, 'We at GMM Pfaudler have always believed that our employees are our most important asset. Without their hard work and determination, we would not be where we are today. As we move towards becoming a truly global organization, a robust ESOP program will help us retain and attract talent.'
Shares of the company gained Rs 34.55, or 0.76%, to settle at Rs 4,610. The total volume of shares traded was 2,403 at the BSE (Thursday).
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