Majority of public shareholders vote against ESOP allotment to IndiGo CEO
NEW DELHI : About two third of the public shareholders of InterGlobe Aviation Limited have voted against a resolution to approve grant of 185,000 stock options to the chief executive of the company, Ronojoy Dutta, despite the promoters of the company that hold a majority stake voting overwhelmingly in favour, according to a company disclosure on the stock exchanges on Monday.
IndiGo’s promoters entities, including co-founder Rahul Bhatia and Rakesh Gangwal, who polled 288 million votes, voted for the resolution. The promoters and promoter groups control 74.85% voting rights and shareholding in the company.
In comparison, public shareholding, including that of institutions, stands at 25.15%. According to the company disclosure, 61.26% of the total votes polled by public institutions voted against it. Total votes polled by public institutions stood at 67.38 million.
