ICICI Bank Allots 7.49 Lakh Equity Shares Under Employee Stock Option Scheme

Key Takeaways

• ICICI Bank allotted 7,49,099 equity shares with a face value of ₹2 each under its Employees Stock Option Scheme 2000 on October 13, 2026. 
• Two Executive Directors approved the allotment at 9:38 am under authority delegated by the bank's Board of Directors in October 2023. 
• The allotment forms part of the bank's employee stock option arrangements and involves the issuance of additional equity shares. 

ICICI Bank Limited allotted 7,49,099 equity shares under its Employees Stock Option Scheme 2000 on Tuesday, October 13, 2026. The shares carry a face value of ₹2 each, according to a regulatory filing submitted to the National Stock Exchange (NSE) and BSE. 

The allotment was approved by two Executive Directors at 9:38 am on the same day. The approval was granted under powers delegated by the bank's Board of Directors at its meeting held on October 21, 2023. 

The filing confirms the number of shares issued, their face value and the employee stock option scheme under which the allotment was made. 

ICICI Bank Issues 7,49,099 Shares Under ESOP Scheme 

The latest ICICI Bank share allotment involves 7.49 lakh equity shares issued through the bank's Employees Stock Option Scheme 2000. 

At the stated face value of ₹2 per share, the aggregate face value of the allotment is ₹14,98,198, or approximately ₹14.98 lakh. 

The face value represents the nominal value assigned to each equity share. It should not be confused with the market price of ICICI Bank shares or the amount received by the bank when employee options are exercised. 

The October 13 disclosure does not specify the exercise price, the number of employees receiving shares or the total proceeds from the allotment. 

Employee stock option schemes generally allow eligible employees to acquire equity shares after fulfilling specified conditions. These arrangements are commonly used as part of employee remuneration and retention programmes. 

In ICICI Bank's case, the latest allotment has been carried out under the Employees Stock Option Scheme 2000, rather than through a fresh public offering of equity shares. 

Approval Granted Under Previously Delegated Authority 

One detail in the filing concerns the approval process. 

ICICI Bank stated that the two Executive Directors authorised the share allotment under powers delegated by the Board on October 21, 2023. 

The October 13 approval therefore relates to the implementation of an existing employee stock option arrangement. 

The bank did not announce a new ESOP scheme or changes to the existing scheme's terms in this disclosure. 

Following the allotment, the newly issued shares add to the bank's equity share count. The precise change in total paid-up equity share capital cannot be established from this filing alone because it does not provide the updated outstanding share count. 

What the Share Allotment Means for ICICI Bank's Equity Capital 

Issuing new equity shares under an employee stock option scheme increases the number of shares outstanding once the allotment is completed. 

Such issuances can have a dilutive effect on existing shareholders' percentage ownership, although the extent depends on the number of new shares relative to the company's total equity base. 

The filing does not provide sufficient information to calculate the percentage dilution arising from the October 13 allotment. 

Importantly, the disclosure concerns employee stock options and does not represent a new capital-raising exercise through a public issue. 

ICICI Bank has confirmed that the allotment was completed on October 13, 2026, and that the required approval was obtained through its delegated executive authority.