Please find enclosed the Voting Results and Scrutinizer's Report for the 26th AGM held on today, i.e. Monday, June 16, 2025.
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IndiaMART InterMESH held its 26th AGM on June 16, 2025 via video conferencing, where all six resolutions were passed with the required majority. Shareholders approved the audited financial statements for FY 2024-25 with 99.98% support and declared a total dividend of Rs. 50 per equity share (Rs. 30 final + Rs. 20 special), backed by 99.99% of votes. Mr. Dhruv Prakash was re-appointed as director (93.81% in favor), while M/s RMG & Associates was appointed as Secretarial Auditor (99.31% in favor). Ms. Pallavi Dinodia Gupta's re-appointment as Independent Director received 84.45% support, with notable dissent of 15.55% driven mainly by institutional investors (41.07% voted against). Mr. Sandeep Kumar Barasia was appointed as a new Independent Director with near-unanimous approval (99.99%). Overall, about 85% of outstanding shares were polled, reflecting strong shareholder engagement.
Shareholders will receive a total dividend of Rs. 50 per share, which is a significant payout. The smooth approval of all resolutions is positive for governance, though the meaningful institutional dissent on the re-appointment of an independent director (over 41% of institutional votes against) is worth noting for investors focused on board composition.