IIAS Opposes Jain's Extension at Bajaj Fin

Proxy advisory firm Institutional Investor Advisory Services India Ltd (IIAS) has recommended that Bajaj Finance Ltd's shareholders vote against the reappointment of Rajeev Jain as vice-chairman and executive director, citing lack of clarity over the full remuneration, including stock options granted to him.

- Gopika Gopakumar

According to IIAS, Bajaj Finance has not disclosed the stock options granted to Jain in FY25 and the proposed terms are silent on the future grants from the company and Bajaj Finserv, the holding company.

Jain was paid ₹22.9 crore in FY25, excluding fair value of stock options, and ₹54.63 crore in FY24, including fair value of stock options. Between FY20 and FY24, stock options comprised more than 50% of his total remuneration.

"Given the lack of clarity on stock options, we are unable to make a reasonable estimate of his remuneration," said the proxy advisory firm in its recommendation.

An email sent to Bajaj Finance did not yield any response till press time.