Safari Industries' Nomination, Remuneration and Compensation Committee approved the allotment of 1,624 equity shares with a face value of Rs. 2 each.

These shares were granted to an ESAR Grantee upon exercising Employee Stock Appreciation Rights under the company's 2022 scheme.

This allotment increases the company's issued, subscribed, and paid-up equity share capital from Rs. 9.798 Cr to Rs. 9.799 Cr.

This move rewards employees and slightly expands the company's share base.