Alpha Ideas

(Disclosure:I am market making in the shares of ICICI Pru Life)

I attended the ICICI Pru Life AGM today .

Made history by being the first external shareholder to attend !!

Here is what I heard and saw:

1. There were only two external shareholders at the meet-I was the first and another was a proxy for an ex-Employee
2. Was met by the Company Secretary Sanaulla Khan .A thorough gentleman and a superb professional, he made me feel welcome.
3. Was ushered into the board room where the the entire Board was seated
4. It was quite surreal to be there honestly
5. The Company Secretary  read out the resolutions.They were moved ,seconded and passed by the shareholders
6. The resolutions were:

• Adoption of Accounts
• Approval of Dividend
• Re-appointment of N S Kannan as Director
• Re-appointment of Rajiv Sabharwal as Director
• Re-appointment of S R Batliboi as Auditors
• Approval of remuneration of Mr.Sandeep Bakshi,MD
• Approval of remuneration of Mr.Puneet Nanda,ED
• Approval of remuneration of Mr.Sandeep Batra,ED

As expected,the AGM quickly got over.Pretty sure once this company goes public,the AGMs will be a massive event.