Star Health and Allied Insurance Company Limited has informed the Exchange regarding Notice of Postal Ballot
STARHEALTH · price
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Star Health and Allied Insurance Company is seeking shareholder approval via postal ballot (e-voting from May 18 to June 16, 2026) on ten resolutions. Key items include: (1) continuation of nominee director Sumir Chadha; (2) reclassification of two promoter group entities — Ebono Private Limited and GS E-commerce Private Limited — from Promoter to Public category (both hold nil shares, and WestBridge AIF I has reduced its stake in these entities below 20%, with NSE/BSE NOC received on April 27, 2026); (3–6) revision in remuneration for MD & CEO Anand Roy (fixed Rs. 7.08 crore + variable Rs. 6.37 crore + 9.04 lakh ESOPs), CMO & Whole-time Director Himanshu Walia (fixed Rs. 3.59 crore + variable Rs. 3.23 crore + 4.59 lakh ESOPs), and COO & Whole-time Director Amitabh Jain (fixed Rs. 3.95 crore + variable Rs. 3.53 crore + 5 lakh ESOPs), all for FY2026-27 subject to IRDAI approval; (7–10) revision in sitting fees/remuneration for four Non-Executive Independent Directors including Chairperson Rajeev Kher (raised to Rs. 40 lakh per annum from Rs. 30 lakh). E-voting closes June 16, results by June 18, 2026.
The reclassification of two nil-shareholding entities reduces the promoter group, marginally improving public float. Major executive pay revisions (especially for the MD & CEO at over Rs. 13 crore total) signal retention focus. ESOP grants align management with shareholder value. No immediate impact on fundamentals — FY26 PAT was Rs. 556.98 crore.