BSE opens e-voting for Executive Director ratification
BSE Limited has initiated the e-voting process for shareholder ratification of Executive Directors Shri Saurabh Shukla and Shri Gopalan S. Raghavan, with the facility open from June 25 to July 24, 2026. The Postal Ballot Notice was dispatched on June 24, 2026, and the company intimated the stock exchanges regarding the newspaper publication of the notice. The appointments are for fixed terms with a total annual remuneration of ₹3,45,00,000.
*this image is generated using AI for illustrative purposes only.
BSE Limited has opened the e-voting facility for shareholders to ratify the appointment of two Executive Directors, Shri Saurabh Shukla and Shri Gopalan S. Raghavan. The voting period commences on June 25, 2026, and concludes on July 24, 2026. The exchange dispatched the Postal Ballot Notice electronically on June 24, 2026, to shareholders registered with KFin Technologies Limited as on the cut-off date of June 19, 2026. The company also intimated the National Stock Exchange of India Limited regarding the publication of the advertisement in newspapers, including Financial Express and Navshakti, on June 25, 2026.
The Board of Directors approved the appointments based on the recommendations of the Nomination and Remuneration Committee (NRC). Shri Saurabh Shukla has been appointed as Executive Director – Critical Operations (Vertical 1), while Shri Gopalan S. Raghavan has been appointed as Executive Director – Regulatory, Compliance, Risk Management and Investor Grievances (Vertical 2). Both appointments are designated as Key Management Personnel and are subject to ratification by the shareholders.
Appointment Details
The appointments are for a fixed term of five years or until the appointees attain the age of 65 years, whichever is earlier. Shri Shukla’s term is effective from September 4, 2026, to September 3, 2031. Shri Raghavan’s term is effective from June 18, 2026, to May 18, 2030. The remuneration structure for both appointees includes a fixed pay and a variable pay component, totaling ₹3,45,00,000 per annum.
| Component | Amount (Per Annum) | Percentage of Total Pay |
|---|---|---|
| Fixed Pay | ₹ 2,58,75,000 | 75% |
| Variable Pay | ₹86,25,000 | 25% |
| Total Pay | ₹3,45,00,000 | 100% |
E-Voting Schedule and Procedure
Central Depository Services (India) Limited (CDSL) has been engaged as the agency to provide the e-voting facility. Mr. Bharat Upadhyay and Mr. Bhaskar Upadhyay, Partners of M/s. N.L. Bhatia & Associates, have been appointed as Scrutinizers for the process.
| Event | Date and Time |
|---|---|
| Commencement of e-Voting | Thursday, June 25, 2026, 09.00 a.m. IST |
| Conclusion of e-Voting | Friday, July 24, 2026, 05:00 p.m. IST |
Shareholders holding shares in demat mode can vote through their depository participants or the CDSL/NSDL websites. Those holding shares in physical form must log on to the e-Voting website at www.evotingindia.com . Trading Members or their associates and agents are not eligible to vote on these resolutions pursuant to Regulation 2(k) of the SECC Regulations.
The results of the postal ballot, along with the Scrutinizer’s Report, will be intimated to the National Stock Exchange of India Limited and made available on the company’s website upon conclusion of the voting process.
Historical Stock Returns for BSE
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.87% | -4.23% | -9.93% | +38.17% | +44.06% | +2,524.61% |
How will the 25% variable pay component for the new Executive Directors be tied to specific performance metrics and long-term strategic goals?
What strategic shifts or operational improvements does BSE anticipate with the creation of the new 'Critical Operations' vertical?
How might these appointments influence BSE's competitive positioning against the National Stock Exchange (NSE) in the near future?
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