Life Insurance Corporation of India has informed the Exchange regarding Notice of Postal Ballot issued for seeking approval on the resolutions specified therein. It is enclosed together with Notes and Explanatory Statement thereto.
LICI · price
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LIC has issued a Postal Ballot Notice seeking shareholder approval through remote e-voting on five key resolutions. The most significant resolution is the issue of bonus shares in a 1:1 ratio (one bonus share for every one share held), which will increase the paid-up capital from ₹6,324.99 crore to ₹12,649.99 crore, funded from the Securities Premium Account and General Reserve. The Board approved the bonus on April 13, 2026, with a record date set for May 24, 2026. Other resolutions include the reappointment of Mr. Siddhartha Mohanty and Dr. M. Jagannath as Managing Directors for a 6-month term (December 29, 2026 to June 28, 2027), reappointment of Mr. Tablesh Pandey as Managing Director, and reappointment of Ms. Anshulika Singh as Government Nominee Director. The cut-off date for eligibility is April 15, 2026, with e-voting open from April 18 to May 17, 2026, and results to be announced on or before May 19, 2026.
The 1:1 bonus issue is generally positive for shareholders, effectively doubling their shareholding without additional cost, though it does not change the underlying value. The director reappointments are largely routine and ensure leadership continuity at LIC. Shareholders should review the resolutions and exercise their voting rights during the e-voting window.