Leela Palaces Hotels & Resorts Limited has submitted the Exchange a copy of Scrutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
THELEELA · price
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Leela Palaces Hotels & Resorts Limited has announced the results of its Postal Ballot conducted via remote e-voting from March 18 to April 16, 2026. Two special resolutions were passed regarding amendments to The Leela Employee Stock Option Scheme 2024. Resolution 1 (ESOP for company employees) was approved with 89.85% votes in favour (270.6 million votes), while Resolution 2 (ESOP extension to subsidiary/holding/associate company employees) passed with 89.53% support (269.7 million votes). The voting participation was strong at 90.19% of outstanding shares. Promoter group voted 100% in favour, but Public Institutional Investors voted significantly against both resolutions (64-66% against), indicating some shareholder concerns with the ESOP proposals.
The approval of ESOP amendments could help attract and retain talent, aligning employee interests with shareholders. However, the substantial opposition from institutional investors (over 60% against) signals potential concerns about dilution or scheme terms that the market may react to negatively.