Indian Bank has informed the Exchange regarding Proceedings of Annual General Meeting held on Jun 17, 2025. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
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Indian Bank held its 19th AGM on June 17, 2025 via video conferencing, chaired by MD & CEO Shri Binod Kumar. All seven resolutions were passed with requisite majority: six ordinary resolutions and one special resolution. Shareholders approved the audited financial statements for FY25 and a dividend of Rs. 16.25 per equity share (162.5%) for shareholders on record as of June 10, 2025. They also approved the appointments of Shri Binod Kumar as MD & CEO, Shri Vishvesh Kumar Goel and Shri Balmukund Sahay as Part-time Non-Official Directors, and M/s Shanmugam Rajendran & Associates LLP as Secretarial Auditor for five years (FY2025-26 to FY2029-30) at a consolidated fee of Rs. 8.50 lakh plus taxes. A special resolution was passed to raise equity capital of up to Rs. 5,000 crore (including premium) through QIP, FPO, Rights Issue, or a combination thereof, subject to government and RBI approvals. Voting results showed overwhelming support, with the capital raise resolution passing with 99.93% approval.
Shareholders will receive a dividend of Rs. 16.25 per share, while the approved Rs. 5,000 crore equity raise could lead to dilution but will strengthen the bank's capital base for future growth. The strong voting margins signal broad shareholder confidence in the bank's leadership and capital plans.