ITC Limited has successfully concluded its postal ballot process, with shareholders approving the appointment of Mr. Navin Agarwal as a Non-Executive Director of the company. The resolution was passed with requisite majority through electronic voting, as announced on March 19, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The ordinary resolution for Mr. Navin Agarwal's appointment received overwhelming shareholder support. Mr. Agarwal will represent the Specified Undertaking of the Unit Trust of India (SUUTI) on the board.

Director Profile and Background

Mr. Navin Agarwal, aged 55 years, brings extensive experience in public finance and governance to ITC's board. He holds a Bachelor's degree in Economics from Delhi University, a Master's in Climate Change, Management & Finance from Imperial Business School, London, and a Master of Public Administration in Finance and Fiscal Policy from Cornell University, USA.

Professional Experience

Voting Results and Participation

The postal ballot process demonstrated strong shareholder participation and support. The voting was conducted entirely through electronic means, with no physical polling or postal ballot options utilized.

Shareholder Participation Overview

Category-wise Voting Analysis

The voting pattern showed strong support across different shareholder categories:

Public Institutions

Public institutional shareholders demonstrated the highest participation rate at 96.41% of their total shareholding. This category, holding 1051,91,60,553 shares, cast 1014,15,52,358 votes through e-voting.

Public Non-Institutions

Public non-institutional shareholders, while having lower participation at 1.36%, showed strong support for the resolution.

Overall Resolution Outcome

The consolidated voting results reflect strong shareholder confidence in the proposed appointment:

The appointment of Mr. Navin Agarwal as Non-Executive Director has been formally approved and will take effect from April 1, 2026. The voting results have been submitted to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that Mr. Agarwal has not been debarred from holding the office of Director by SEBI or any other authority.

ITC Limited has completed the allotment of shares under its Employee Stock Option Schemes, issuing 2,38,850 ordinary shares following the exercise of employee stock options on March 18, 2026. The allotment represents the conversion of 23,885 stock options into equity shares by eligible employees.

Share Allotment Details

The company's committee meeting, which approved the share allotment, concluded at 3:15 PM on March 18, 2026. The allotment was conducted in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Impact on Share Capital

Following the allotment, ITC's share capital structure has been updated with immediate effect from March 18, 2026. The company's issued and subscribed share capital has increased substantially.

Regulatory Compliance

The share allotment was executed under the framework of the company's established Employee Stock Option Schemes. ITC has notified the relevant stock exchanges, including the National Stock Exchange of India Limited and BSE Limited, about the allotment as required under listing regulations. The company has also informed international regulatory bodies including the Securities Exchange Commission in the United States and Societe de la Bourse de Luxembourg.

The allotment reflects the ongoing participation of employees in the company's equity through the stock option schemes, allowing eligible optionees to convert their vested options into equity shares of the company.