Mumbai : ICICI Lombard General Insurance Company Limited has announced the allotment of 1,03,173 equity shares under its employee stock-based compensation schemes, according to a regulatory filing submitted to the stock exchanges.
The company informed both the BSE Limited and the National Stock Exchange of India that the shares, having a face value of ₹10 each, were allotted under two separate employee benefit programmes.
Shares Issued Under ESOP and ESU Schemes
The allotment includes:
- 75,627 equity shares issued under the ICICI Lombard Employees Stock Option Scheme (2005)
- 27,546 equity shares issued under the Employees Stock Unit Scheme (2023)
The company stated that the allotment was approved by a Whole-time Director acting under authority delegated by the Board of Directors during its meeting held on July 18, 2023.
Shares to Rank Pari-Passu
According to the filing, the newly allotted shares will rank pari-passu with the company’s existing equity shares in all respects. This means that the new shares will carry the same rights and benefits as existing shares, including voting rights, dividend entitlements, and other shareholder privileges.
The allotment forms part of the company’s broader employee compensation and retention strategy aimed at aligning employee interests with long-term corporate performance and shareholder value creation.
Regulatory Compliance and Disclosure
The disclosure was made in compliance with applicable listing regulations and stock exchange requirements related to employee stock option and stock unit allotments.
The company also confirmed that details regarding the allotment and related disclosures would be made available on its official website for shareholders and investors.
Employee stock option and stock unit programmes are commonly used by listed companies to incentivize employees, encourage long-term association with the organization, and strengthen performance-linked compensation structures.
