Life Insurance Corporation of India has submitted the Exchange a copy Scrutinizers report of Postal Ballot. Further, the Corporation has informed the Exchange regarding voting results along with CTC of the resolutions passed by the Members.
LICI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
LIC shareholders approved 5 resolutions via postal ballot with overwhelming majority (all above 99.7%). The key resolution is a 1:1 bonus share issue, capitalizing Rs 6,324.99 crore from reserves to issue fully paid bonus equity shares. Two independent directors (Shri Mahalingam G and Dr. V.S. Parthasarathy) were re-appointed for 6-month terms. Ms. Shalini Pandit was appointed as Government Nominee Director, and Shri Ramakrishnan Chander was appointed as Managing Director (pay scale Rs 2,05,400-2,24,400). Voting participation was strong at 98% of total shares, with promoters voting 100% in favor on all resolutions.
The 1:1 bonus issue will double share count, increasing liquidity and making the stock more accessible to retail investors. This is generally positive for shareholders as it rewards loyalty without cash outlay. Board appointments ensure continuity of leadership.