Superior voting rights (SR) shares

    ESG & Governance

    Shares that carry more votes per share than ordinary shares, allowed for some founder-led technology companies.

    SEBI's 2019 framework allows SR shares with between 2 and 10 votes per share, held by founders who are promoters. Safeguards include a sunset after five years (extendable once by five years without the SR holders voting), one share, one vote on key matters such as appointing independent directors and auditors and related-party deals, and the end of SR rights if the shares are sold. SR structures give founders control with a smaller economic stake.

    Related terms

    PromoterIndependent directorE-voting

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