Detailed proceedings of the Extraordinary General Meeting of the Company held on Thursday, 24th July 2025
NESTLEIND · price
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Nestle India filed the detailed proceedings of its EGM held on 24th July 2025, where shareholders approved two special business items with overwhelming majority (over 97.7% in favour). The first resolution approves a 1:1 bonus issue of equity shares by capitalising up to ₹96.42 crore from retained earnings, which stood at ₹4,008.95 crore as on 31st March 2025. The bonus will be issued from ₹837.43 crore reclassified from General Reserves to Retained Earnings in 2023 under an NCLT-approved scheme. The second resolution increases the Authorised Share Capital from ₹100 crore to ₹200 crore (creating an additional 100 crore shares of ₹1 each) and amends the Memorandum of Association. The Chairman noted that over 45,000 shareholders holding only one share will benefit, and the retail shareholder base had tripled to 5.5 lakh after the January 2024 10:1 stock split. The meeting also marked the outgoing Chairman Suresh Narayanan's farewell, with Manish Tiwary signing as Chairman and Managing Director.
Eligible shareholders will receive one additional share for every share held, effectively doubling the share count and likely leading to a proportionate adjustment in the stock price. The expanded authorised capital provides flexibility for future capital actions. No material negative signals; the high approval margin (97.76% and 97.78%) shows strong investor confidence.