Indiamart Intermesh Limited has submitted the Exchange a copy Scrutinizers report of Postal Ballot Results. Further, the Company has also informed the Exchange regarding voting results.
INDIAMART · price
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IndiaMART InterMESH Limited announced the results of its postal ballot conducted via remote e-voting from July 31 to August 29, 2025, with 1,70,550 shareholders on record. Two resolutions were passed: (1) Appointment of Ms. Vasuta Agarwal (DIN: 07480674) as an Independent Director passed with 99.99% approval (51,201,833 votes in favour out of 51,203,464 polled). (2) Approval of a related party transaction allowing Mr. Amit Agarwal to hold an office or place of profit in the company passed with 78.28% approval, with promoter votes of 17,247,510 shares excluded due to related party interest. Notably, 38% of public institutional investors voted against the second resolution, though the resolution still passed.
The new Independent Director strengthens board oversight, while the passing of the related party transaction allows Mr. Amit Agarwal (a member of the promoter family) to formally hold a position in the company. The significant dissent from institutional investors on the second resolution may draw attention from corporate governance watchers, though both resolutions were successfully passed.