18 April 2024: IiAS today published its annual compilation of ‘Voting Data and Outcomes for the NIFTY 500 Companies’ for 2023.

For the year under review, promoters held 53.01% in NIFTY500, institutional investors owned 26.20% percent, with others holding the balance 20.97%.

The promoters voted 79.17% of their shares, much lower than 92.67% of the shares voted during 2021. While it is expected that promoters will vote all their shares, it is not so: there are resolutions in which promoters as interested or related parties do not get to vote. Of the votes cast by promoters, 99.97% were in favour of the resolutions proposed, while 0.03% were against.

Institutional investors polled 79.45% of the shares they own, marginally less than the 82.26% voted the previous year. Of the votes cast by institutional investors, 95.08% were in favour of the proposed resolutions, while 4.92% were against.

The ‘others’ an amalgam of various types of investors, hold not just the lowest percentage of equity but polled 21.22% their shares, which is the lowest the previous 2 year. As with promoters and institutional investors, 99.55% of their votes were in favour of the proposed resolutions, while 0.45% were against.

Click here to read the report.