Market intelligence firm Tracxn Technologies Limited has announced the allotment of 1,82,892 equity shares under its Employee Stock Option Plan (ESOP) 2016.
The decision was made by the company’s Nomination and Remuneration Committee through a circular resolution dated September 5, 2024.
The equity shares were allotted at an exercise price of Re. 1 per share to eligible employees who exercised their stock options.
Following this allotment, the paid-up share capital of Tracxn Technologies will increase to Rs 10,47,51,930 from Rs 10,45,69,038.
The shares allotted will rank pari passu with the existing equity shares of the company and will not be subject to any lock-in restrictions, except those required by applicable laws.
The total money realized from this allotment is Rs 1,82,892.
In addition, the company’s diluted earnings per share (EPS) for the quarter ending June 30, 2024, is reported to be Rs 0.12.
The new ESOP allotment follows a similar move in early August, when Tracxn issued 99,707 equity shares under the same plan.
This allocation aligns with a broader trend where startups across sectors are expanding their ESOPs to incentivize and retain talent.
Other startups, such as PB Fintech, Delhivery, and Honasa Consumer, have also been actively expanding their employee stock option plans recently.
