Around for a little over a decade in the country, these companies find themselves at a crossroads amid low acceptance among investors and poor business metrics. What should they do?
Earlier this month, two proxy advisory firms took on India’s richest man. They urged institutional investors of Mukesh Ambani’s Reliance Industries—India’s most valuable company—to vote against the appointment of his youngest son, Anant Ambani, on the board.
Proxy advisors, as the name suggests, are independent firms that advise institutional investors on management actions and board resolutions. They usually track listed companies. Put simply, they act as watchdogs for corporate governance on behalf of shareholders. That’s exactly what the two firms were doing for Reliance’s shareholders.
On 9 October, Mumbai-based Institutional Investor Advisory Services (IiAS) said that “at 28 years of …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai