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Tech Mahindra rewards ESOP to employees worth over Rs 7 lakh

Tech Mahindra rewards ESOP to employees worth over Rs 7 lakh

Pune-headquartered information technology and business process outsourcing (BPO) services provider Tech Mahindra has announced the allotment of a total of 1,66,517 equity shares of Rs 5 each as part of its employee stock ownership plan (ESOP).  

The allotment is made as part of three separate ESOP plans including 1,51,467 equity shares for ESOP 2014; 9,040 equity shares on the exercise of stock options under ESOP 2018 and 6000 equity on the exercise of stock options under TML-ESOP-B-2013 plans.  

After the issue, the total number of shares of the company stands at 96,89,88, 701 shares while the total issued share capital was at Rs 484.5 crore, according to filings made by the company with the exchange. 

Tech Mahindra has a strong deal pipeline earlier this year, including partnerships with IPL champions Rajasthan Royals, Telefonica Germany and Pret A Manger.   

Earlier this year, Tech Mahindra acquired Denver, Colorado headquartered Eventus Solutions Group in a $44 million deal to strengthen its business process services. The company also bought hybrid cloud and DevOps services provider DigitalOnUs in April for $120 million.  

IT services major Infosys, in April this year, granted 37.88 lakh equity shares to key managerial personnel and eligible employees under its ESOP schemes of 2015 and 2019. 

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