India, Aug. 28 -- Amid a rally for its stock, beauty and personal care (BPC) major Nykaa has allotted 4.9 Lakh shares to its employees. The allotted shares are worth INR 11.6 Cr as per Nykaa's closing price for today, INR 234.20.

In a filing with the exchanges today, the company said that the allotted equity shares shall rank pari-passu with the existing equity shares of the company.

"These Equity Shares are allotted pursuant to the exercise of vested stock options by the employees under Employee Stock Option Schemes of the Company," Nykaa said. However, there weren't any further disclosures from the company regarding the scheme of the allotment.

Besides, the company also announced the international expansion of its owned brand Kay Bea...