Nippon Life India AMC Shareholders Approve New CEO Appointment and ESOP Amendments

Nippon Life India AMC has successfully concluded its postal ballot voting process, with shareholders delivering strong approval for key corporate governance decisions. The asset management company announced the results on January 9, 2026, following the completion of the e-voting period.

Leadership Appointment Receives Overwhelming Support

Shareholders have approved the appointment of Mr. Sundeep Sikka (DIN: 02553654) as Managing Director & Chief Executive Officer through an ordinary resolution. The voting results demonstrate remarkable shareholder confidence in the leadership decision.

Voting Category	Votes in Favor	Votes Against	Total Votes	Approval Rate
Promoter Group	459,028,095	0	459,028,095	100.00%
Public Institutions	110,888,010	11,144,405	122,032,415	90.87%
Public Non-Institutions	766,587	5,829	772,416	99.25%
Total	570,682,692	11,150,234	581,832,926	98.08%

ESOP Plan Amendments Approved

The special resolution for amendments to the 'Reliance Nippon Life Asset Management Limited – Employee Stock Option Plan 2019' also received strong shareholder support. This resolution required a higher threshold for approval as a special resolution.

Voting Category	Votes in Favor	Votes Against	Total Votes	Approval Rate
Promoter Group	459,028,095	0	459,028,095	100.00%
Public Institutions	113,605,209	8,451,496	122,056,705	93.08%
Public Non-Institutions	764,007	8,464	772,471	98.90%
Total	573,397,311	8,459,960	581,857,271	98.55%

Strong Shareholder Participation

The postal ballot process witnessed significant participation from the company's shareholder base. With a total of 2,26,987 shareholders on record as of the December 5, 2025 cut-off date, the company achieved substantial voting participation rates:

CEO Appointment Resolution: 91.34% of outstanding shares participated in voting
ESOP Amendment Resolution: 91.34% of outstanding shares participated in voting

The e-voting process was conducted entirely through remote voting, with no physical postal ballot forms distributed in compliance with MCA circulars. KFin Technologies Limited served as the service provider for the e-voting platform, while M/s. M. Siroya and Company, Practicing Company Secretaries, acted as the scrutinizer for the postal ballot process.

Corporate Governance Process

The postal ballot notice was originally dated October 30, 2025, and the Board of Directors appointed the scrutinizer on the same date. Email notifications were sent to 2,14,548 members who had registered their email addresses with the company on December 10, 2025. The voting period concluded at 5:00 p.m. on January 9, 2026.

Both resolutions have been declared passed with the requisite majority, marking successful completion of important corporate governance decisions for the asset management company. The results reflect strong alignment between the company's strategic decisions and shareholder expectations.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.80%	+0.44%	+8.57%	+11.52%	+25.29%	+184.43%

Nippon Life India AMC has successfully concluded its postal ballot exercise on January 9, 2026, with shareholders demonstrating overwhelming support for key corporate resolutions. The asset management company announced the results of two critical resolutions that will shape its leadership structure and employee incentive framework.

Leadership Appointment Receives Strong Mandate

The appointment of Mr. Sundeep Sikka (DIN: 02553654) as Managing Director & Chief Executive Officer received resounding shareholder approval. The voting results demonstrate strong confidence in the leadership choice:

Voting Category	Votes in Favor	Votes Against	Total Valid Votes	Approval Rate
All Categories	570,682,692	11,150,234	581,832,926	98.08%

The resolution attracted participation from 1,036 members through the e-voting platform, with only 87 members voting against the proposal. Promoter and promoter group shareholders provided unanimous support with 100% of their 459,028,095 shares voted in favor.

ESOP Amendment Gains Overwhelming Support

Shareholders also approved the special resolution for amendments to the 'Reliance Nippon Life Asset Management Limited – Employee Stock Option Plan 2019' with equally strong support:

Resolution Details	Votes in Favor	Votes Against	Total Valid Votes	Approval Rate
ESOP Amendment	573,397,311	8,459,960	581,857,271	98.55%

This special resolution saw participation from 1,035 members, with 938 members voting in favor and only 83 voting against the proposal.

Comprehensive Voting Participation

The postal ballot exercise demonstrated robust shareholder engagement across different categories. Public institutional investors showed strong participation with over 90% of their shareholding participating in the voting process. The company had a total of 2,26,987 shareholders on the record date of December 5, 2025.

Shareholder Category	Shares Held	Voting Participation Rate
Promoter Group	459,028,095	100.00%
Public Institutions	135,453,369	90.09%
Public Non-Institutions	42,511,373	1.82%

Regulatory Compliance and Process

The postal ballot was conducted in accordance with Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Regulations. M/s. M. Siroya and Company, Practicing Company Secretaries, served as the scrutinizer for the voting process. The e-voting period concluded at 5:00 p.m. on January 9, 2026, with KFin Technologies Limited providing the e-voting platform.

The company sent email notifications to 2,14,548 members who had registered their email addresses, following MCA circulars that eliminated the requirement for physical postal ballot forms. The scrutinizer confirmed that both resolutions were passed with the requisite majority, validating the company's strategic decisions through proper shareholder approval.