Tata Technologies offers stock option plan

NEW DELHI: Tata Technologies Ltd., a group firm of India's $8.8 billion

diversified Tata group, announced on Wednesday an employee stock option plan

(ESOP) to be offered to all 2,000 of its employees.

The ESOP will consist of 10 per cent of the firm's subscribed equity, a

company statement said.

Tata Technologies is an unlisted firm and offers software solutions mainly to

international and domestic auto giants such as General Motors, Ford Motor Co,

Telco Ltd. and Bajaj Auto.

The firm, spun off as a separate subsidiary in 1997, earned revenues of $24

million (Rs 1.11 billion) last year, a five-fold increase since its spin-off.

($1 = 46.39 rupees).

(C) Reuters Limited 2001.