ICICI Bank Allots 3.35 Lakh Equity Shares Under ESOP Scheme

Mumbai, June 16: Private sector lender ICICI Bank has allotted 335,705 equity shares with a face value of ₹2 each under the ICICI Bank Employees Stock Option Scheme-2000 (ESOP), according to a regulatory filing submitted to the stock exchanges.

The allotment was approved by two Executive Directors of the bank on Tuesday at 10:46 a.m., which marked the time of the final approval. The authority for the allotment had been delegated by the Board of Directors during its meeting held on October 21, 2023.

Move Reflects Continued Employee Ownership Initiative

The latest share allotment forms part of ICICI Bank's long-standing employee stock option programme, aimed at rewarding employees and aligning their interests with the bank's long-term growth and performance.

Employee stock option schemes are widely used by companies to encourage employee participation and create long-term value through ownership in the organization.

Following the allotment, the newly issued shares will rank pari passu with the existing equity shares of the bank.