The compensation committee of the company's board has approved the stock option of 24,500 shares at an exercise price of Rs 813 per share, Tech Mahindra said in a filing to the Bombay Stock Exchange.
The allotment would be made to "certain employees 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 805 on the BSE, down 0.78 per cent from its previous close.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks