Kirloskar Oil Engines Limited announced the allotment of 12,286 equity shares following the exercise of employee stock options under the KOEL ESOP 2019 plan. Furthermore, the company’s Board of Directors approved the re-appointment of Mr. Yogesh Kapur as an Independent Director for a second five-year term and confirmed the continued engagement of G. D. Apte & Co. as Statutory Auditors through 2031.
Equity Expansion via ESOP
Following the company’s employee stock option exercise, the board has approved the issuance of 12,286 fully paid-up equity shares, each with a face value of Rs. 2. This move has adjusted the company’s share capital structure, raising the total issued and subscribed equity shares to 14,53,80,409, aggregating to a value of Rs. 29,07,60,818.
Strategic Leadership Continuity
The Board has formally re-appointed Mr. Yogesh Kapur (DIN 00070038) as an Independent Director. His current tenure, ending in September 2026, will be extended by a second consecutive term of 5 years, effective from September 29, 2026. Mr. Kapur brings over 43 years of extensive experience in the financial services and investment banking sectors, having previously held senior roles at HDFC, Axis Bank, and Axis Capital.
Auditor Re-appointment
In addition to leadership updates, the company has recommended the re-appointment of G. D. Apte & Co., Chartered Accountants, Pune, as the Statutory Auditors. The firm, established in 1930, will serve a second 5-year term, extending from the conclusion of the upcoming Annual General Meeting until the conclusion of the company’s AGM to be held in 2031, subject to shareholder approval.
Source: BSE
