Tech Mahindra to allot 45,000 shares under ESOP

The compensation committee of the company's board has approved the stock option of 45,000 shares at an exercise price of Rs 340 per share, Tech Mahindra said in a filing to the Bombay Stock Exchange.

The allotment would be made to "certain employees and directors of the company and or its holding and subsidiary companies, under Employee Stock Option Plan (ESOP) 2006 of the company," the filing added.

Shares of Tech Mahindra were trading at Rs 328.80, down 3.24 per cent in the late afternoon trade on the BSE.