Kirloskar Oil Engines Limited announced the allotment of 12,286 equity shares following the exercise of employee stock options. Additionally, the company confirmed the re-appointment of Mr. Yogesh Kapur as an Independent Director for a second five-year term, alongside the re-appointment of G. D. Apte & Co. as the company’s Statutory Auditors through 2031.
Equity Allotment Through ESOP
As part of the company’s Employee Stock Option Plan 2019, the Board of Directors approved the issuance of 12,286 fully paid-up equity shares with a face value of Rs. 2 each. Following this allotment, the company’s total issued and subscribed share capital has increased to 14,53,80,409 shares, while the paid-up capital has reached 14,53,79,944 shares.
Leadership and Governance Appointments
The company has officially moved to extend the tenure of Mr. Yogesh Kapur as an Independent Director. Mr. Kapur, a seasoned Fellow Chartered Accountant with over 43 years of experience in the financial services sector, will begin his second five-year term on September 29, 2026. His extensive background includes senior roles at HDFC, HSBC, and Axis Capital, providing deep expertise in corporate restructuring and public market listings.
Appointment of Statutory Auditors
Furthermore, the Board has recommended the re-appointment of G. D. Apte & Co. as the Statutory Auditors. This firm, established in 1930, has been tasked with overseeing the company’s audits for another five-year term. The appointment is slated to commence upon the conclusion of the upcoming Annual General Meeting and will remain in effect until the conclusion of the AGM to be held in 2031.
Source: BSE
