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 Certified True Copy of the resolutions passed by the Members.
LICI · price
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LIC of India has announced the results of its postal ballot conducted between April 18 and May 17, 2026. All five resolutions were approved with overwhelming majority (over 99.7% in favour). The key resolution is a 1:1 bonus share issue, capitalizing approximately ₹6,325 crore from reserves to issue fully paid-up bonus equity shares. Additionally, 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. Voting participation was strong at 98% of total shares, with the promoter group voting 100% in favour of all resolutions.
The 1:1 bonus issue is positive for existing shareholders as it doubles their shareholding without any cost. This typically signals management confidence and can improve liquidity. The appointments maintain board stability and governance continuity for the state-owned insurer.