BANGALORE: The Union cabinet has approved the proposal of Mahanagar Telephone
Nigam Ltd. (MTNL) to offer 200 shares per employee at Rs 146 per share under the
employees stock option plan (ESOP). "The stock option will involve issuance
of approximately 5 per cent of the paid-up capital of the company and will be at
a discount of 15 per cent to the prevailing market price of Rs 175 per share,''
an official spokesperson said. The stock option can be exercised by 38,150
employees of Group C and 19,013 employees of Group D. While Group A and B
employees will be allowed to avail this after becoming employees of MTNL at the
end of their deemed deputation period.
Cabinet approves MTNL ESOP plan
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