REC Limited has submitted the Exchange a copy of Voting Results and Srutinizers report of Annual General Meeting held on August 27, 2025.
RECLTD · price
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Awaiting price reaction for this filing.
REC Limited filed the voting results of its 56th AGM held on August 27, 2025, where all 9 resolutions were passed with the required majority. Shareholders approved the audited financial statements for FY25, the final dividend for FY 2024-25 (after four interim dividends already paid), appointment of Shri Jitendra Srivastava as the new Chairman and Managing Director, two new Independent Directors, statutory and secretarial auditors, and approval for private placement of securities. Out of 1.18 million shareholders on record, only 172 attended through video conferencing, with voting participation around 80.4% of total shares. Promoter holding (Government of India) at 52.6% ensured easy passage of all resolutions, though institutional investors showed notable dissent of around 20% on director re-appointments.
The final dividend declaration rewards shareholders, and the private placement approval gives REC flexibility to raise capital cost-effectively as a Maharatna NBFC. The change in leadership with a new CMD and notable institutional dissent on some director appointments are points worth tracking for governance-conscious investors, but overall the filings are routine procedural disclosures with no material surprise.