Britannia Industries Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
BRITANNIA · price
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Britannia Industries conducted a postal ballot to appoint Mr. Rakshit Hargave (DIN: 03406793) as the Chief Executive Officer and Managing Director. The resolution was passed with 79.58% of votes polled in favour, with 80.21% shareholder participation (19.32 crore shares out of 24.09 crore outstanding). Promoters and promoter group voted unanimously (100%) in favour with 12.18 crore shares. However, public institutional investors (mutual funds, FIIs) polled 85.80% of their holdings and a clear majority of 55.33% voted AGAINST the appointment, while public non-institutions voted 98.26% in favour. The voting was conducted via remote e-voting from 13 February to 14 March 2026, scrutinised by M/s. Parikh & Associates.
The appointment is approved and Mr. Rakshit Hargave will take charge as CEO & MD. However, the significant dissent from institutional investors (over 55% of institutional votes against) signals governance concerns that could weigh on investor sentiment and warrants monitoring of leadership transition execution.