Virtual AGMs see lower shareholder representation amid Covid-19 pandemic

TCS and M&M were outliers, recording a two-fold rise in representation

More shareholders attended their companies’ annual ge­neral meetings (AGMs) during the pandemic as video conferencing became the norm. However, the paradox is that these higher numbers translate into lower representation.

Business Standard checked the attendance numbers for the 30 companies comprising the Sensex. Data was available for 24 of them, some were yet to hold their meetings or make data available. The companies saw a median increase of 54 attendees. The number of attendees as a percentage of the total shareholding, however, fell from 0.08 per cent of the shareholding base last year to 0.06 per cent now.

The fall