Page 7 - Database Group News Today

Shareholder meetings in the financial year 2022-23 saw a surge in advocacy by institutional shareholders who made their voices heard by voting against several resolutions proposed by managements.

Institutional shareholders are increasingly voting against resolutions passed by company managements, indicating a growing trend among investors to make their voices heard. In FY23, over 20% of institutional shareholders opposed 1,833 resolutions, a 44% increase over the previous year. For Nifty50 companies, resolutions with over 20% dissenting votes increased by 35% YoY. The rise in advocacy is attributed to mandatory e-voting, stewardship codes, proxy firms, and increased institutional holding...

Like in previous years, most of such resolutions related to board changes and remuneration, specifically employee stock ownership plans (ESOPs).

Types: Most number of resolutions related to 'Board Changes' at 6,138. This was followed by resolutions relating to the auditors, remuneration and financial results.

MNDY earnings call for the period ending March 31, 2023.

The ownership by domestic investors, individual as well as institutional, in companies listed on the National Stock Exchange (NSE) has breached the 25 per cent mark for the first time. The share stood at 25.72 per cent at the end of the March 2023 quarter, up from 24.44 per cent in the previous quarter, according to data from Prime Database. The share of foreign portfolio investors (FPIs), meanwhile, rose slightly to 20.56 per cent from 20.24 per cent as on December 31, 2022.

Meanwhile, the total share of institutional investors, including FII and DII, on NSE also reached an all-time high of 36.91% in Q4FY23, up from 35.56% in Q3FY23

The likes of Bajaj Holdings & Investment, Shriram Finance, and Deepak Nitrite led the pack in terms of market capitalisation

Primary market fundraising may plunge 35% from ₹59,412 cr in 2022 to ₹38K cr- ₹40K cr this year

Pre-listing shareholders' lock-in will open for 33 companies in April-July, creating further volatility, while IPO fund raising almost halved to Rs 52,116 crore in FY23