Tech Mahindra offers stock options for shares worth Rs. 7 L to its employees

Through an exchange filing on December 21, 2022, Tech Mahindra announced that it would issue employee stock options for shares valued Rs 7,58,450. A total of 1,51,690 equity shares worth Rs 5 each would be distributed across two ESOP 2014 and ESOP 2018 schemes.

Following this new issue, 973,778,993 shares totaling Rs 4,868,894,665 have been issued. Earlier this month, the company announced its collaboration with Airtel to enable a private 5G network at Mahindra’s Chakan facility.

On December 12, 2022, Tech Mahindra granted stock options worth more than 6 lakh rupees to its employees. On Wednesday, Tech Mahindra shares were up 0.91 percent at Rs 1,027.20. Tech Mahindra is part of the Mahindra Group.

The company is based in Pune, while Mumbai serves as its registered office. It is a global provider of consulting and IT services based in India. More than 158,000 people work at Tech Mahindra in 90 different countries.