Attached herewith the Scrutinizers Report for resolutions passed by Postal Ballot on May 8, 2025. Kindly Acknowledge.
Awaiting price reaction for this filing.
IDBI Bank conducted a Postal Ballot via e-voting from April 9 to May 8, 2025, in which all three ordinary resolutions were passed with overwhelming shareholder support. The first resolution re-appointed Shri Rakesh Sharma as Managing Director & CEO for three years effective March 19, 2025 (RBI approved), receiving 99.96% votes in favour. The second resolution appointed Shri Sat Pal Bhanoo as LIC Nominee Director effective February 10, 2025, with 99.95% approval. The third resolution appointed Shri R. Doraiswamy as LIC Nominee Director effective May 19, 2025, with 99.97% approval. Notice was sent to 6,81,276 members electronically. Voting rights of the Government of India and LIC were each capped at 26% of total voting rights under the Banking Regulation Act, 1949.
Leadership continuity is confirmed with Rakesh Sharma's re-appointment as MD & CEO, while LIC further consolidates its board presence with two nominee directors. The near-unanimous approval signals strong institutional alignment, but the outcome is procedural and unlikely to materially move the stock.