No royalty hike for parent as Nestle India shareholders turn down proposal

Majority of Nestle India shareholders have rejected a proposal to increase royalty payout to Swiss parent Nestle SA. A total of 57.18% shareholders voted against the proposal, including 70.8% public shareholders. The board approved a 5-year royalty increase from 4.5% to 5.25% of net sales. Proposal included Maggi instant noodles and Nescafe instant coffee.