IDBI Bank Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 22, 2025
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IDBI Bank held its 21st AGM on July 22, 2025, exclusively through video conferencing, chaired by Independent Director and Part-Time Chairman T. N. Manoharan. All 7 resolutions put to vote were passed as Ordinary Resolutions, including adoption of audited financial statements for FY25, declaration of a dividend of Rs. 2.10 per equity share (face value Rs. 10), re-appointment of two Government Nominee Directors (Manoj Sahay and Sushil Kumar Singh), appointment of Parikh & Associates as Secretarial Auditor for FY26-FY30, and approval of material related party transactions with LIC and LIC Housing Finance. The Chairman confirmed that the Statutory and Secretarial Auditors' Reports contained no qualifications or adverse observations. Around 29 shareholders registered as speakers and raised queries, which were addressed in detail by MD & CEO Rakesh Sharma. E-voting ran from July 17 to July 21, with an additional 15-minute window after the meeting closed at 1:20 PM.
Shareholders have formally approved a Rs. 2.10 per share dividend for FY25, providing a direct cash return, while the clean audit reports and smooth approval of all resolutions signal stable governance. The related party transaction approvals with LIC entities reflect the bank's continuing strategic linkages with its promoter group.