CarTrade Tech Limited, a leading online automotive marketplace, has announced the allotment of 50,000 equity shares under its Employee Stock Option Plan (ESOP) 2015.
This decision was approved by the company’s Board of Directors via a circular resolution passed on August 13, 2024.
The newly allotted shares, with a face value of ₹10 each, were issued to eligible employees who exercised their vested options under the ESOP 2015 scheme.
The exercise price per share was ₹472, including a premium of ₹462.
As a result of this allotment, the paid-up share capital of CarTrade Tech Limited has increased from ₹47.25 crores to ₹47.30 crores, with the total number of equity shares rising from 4,72,50,085 to 4,73,00,085.
Based on the stock’s last closing price of INR 831.05 on NSE, the value of these shares is estimated to be approximately INR 4.15 Crore.
The company confirmed that the new shares would rank pari-passu with the existing equity shares, ensuring that they are identical in all respects.
The company further clarified that there are no lock-in restrictions on these shares. This latest move follows CarTrade’s recent initiatives to expand its ESOP offerings.
In April 2024, the company allocated an additional 3.04 Lakh equity shares under its ESOP schemes.
This was followed by an allotment of 28,000 stock options, valued at approximately INR 2.34 Crore, in July.
Additionally, on July 30, the company granted 100,000 ESOP options under its 2021 scheme.
About CarTrade Tech Limited
CarTrade Tech Limited operates one of India’s largest online automotive platforms, offering a wide range of services, including buying and selling vehicles, auctions, and automotive insights.
The company also provides technology solutions for OEMs and dealers and operates well-known brands such as CarWale, BikeWale, CarTrade Ventures, Shriram Automall, Adroit Auto, and OLX India.
