Parag Milk Foods has issued a corrigendum to its earlier board meeting outcome, clarifying the delegation of power to its Finance Committee for issuing shares to the ESOP Trust. The correction pertains to Item No. 5 of the board meeting outcome dated May 7, 2026.
The revised statement now reads: “Delegation of power to Finance Committee of Board of Directors for allotment of 10,00,000 Equity Shares of the Company having face value of Rs. 10/- each to Parag Milk Foods Employees Stock Option Trust (ESOP Trust) under the ‘Parag Milk Foods Limited – Employee Stock Option Scheme 2022’ (ESOP 2022 / ESOS 2022). These shares shall rank pari-passu with the existing equity shares of the Company in all respects post allotment to the ESOP Trust.”
Following the allotment, the issued and paid-up equity share capital of Parag Milk Foods will increase to ₹126,10,95,540, divided into 12,61,09,554 fully paid-up equity shares of ₹10 each. This adjustment ensures that the ESOP Trust shares are in line with the existing equity shares of the company.
The company emphasised that aside from this correction, all other details and contents of the original intimation remain unchanged. Parag Milk Foods expressed regret for any inconvenience caused by the oversight and has requested stakeholders to update their records accordingly.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).