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The Board of Directors of CarTrade Tech Limited has approved the allotment of 1,750 equity shares under the Employee Stock Option Plan 2021 (I) to eligible employees. Following this allotment, the company's paid-up share capital has increased to ₹47.43 crore (cr), consisting of 4,74,37,835 equity shares. Each share has a face value of ₹10 and was issued at an exercise price of ₹644.03, resulting in a premium of ₹634.03 per share. While this allocation is noteworthy, it is not considered material to the company’s overall operations.
This update reflects management's ongoing strategy to incentivize employees through share options, which can enhance employee engagement and potentially align their interests with shareholders, indicating a positive outlook on managing talent effectively.