India, March 5 -- Fino Payments Bank's board has approved an allotment of 4,100 equity shares under its employee stock option plan (ESOP).

As per the bank's regulatory filing yesterday (March 4), the startup said that its board approved the allotment of 4,100 equity shares at a face value of INR 10 each to eligible employees upon exercise of vested options under the Fino Payments Bank Limited - Employee Stock Option Policy, 2023.

"The equity shares so allotted upon exercise of vested options pursuant to ESOP-2023, and it shall rank pari-passu with the existing equity shares of the bank," the filing said.

With the fresh allotment, the issued, subscribed and paid-up equity share capital of the company has increased to INR 83,21,84,020 Cr...