Indian Oil Corporation Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 30, 2025
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IndianOil has issued the notice for its 66th AGM, scheduled for Saturday, August 30, 2025 at 10:00 AM via Video Conference. The Board has recommended a dividend of ₹3 per equity share for FY 2024-25, with August 8, 2025 as the record date. Shareholders will vote on adopting the FY25 audited financials, reappointing directors including Anuj Jain and Alok Sharma, and ratifying the appointment of Arvinder Singh Sahney as Chairman and Suman Kumar as Director (Planning & Business Development). Three independent directors (Prasenjit Biswas, Krishnan Sadagopan, Dattatreya Rao Sirpurker) are up for reappointment for a second term of one year. The notice also seeks approval for material related party transactions with multiple subsidiaries and joint ventures (Lanka IOC, Petronet LNG, IndianOil Adani Gas, IHB, Hindustan Urvarak Rasayan, etc.) for FY 2026-27, capped at 10% of consolidated turnover. Additionally, shareholders will vote on appointing Dholakia & Associates LLP as secretarial auditor for five years, ratifying ₹24.50 Lakh cost auditor remuneration, and authorising a ₹481 Crore corporate guarantee for joint venture Indofast Swap Energy Pvt Ltd. E-voting will run from August 27-29, 2025, with the cut-off date for voting eligibility set as August 23, 2025.
Routine AGM notice with standard agenda items. The ₹3 per share dividend declaration is the main shareholder-relevant item. Multiple related party transaction approvals and director appointments are administrative in nature, unlikely to materially move the stock. Investors should note the August 8, 2025 record date for dividend eligibility and the TDS documentation deadline of August 10, 2025.