1. Approved re-appointment of Mr. Suramya Nevatia (DIN:06703910) as the Managing Director of the Company, based on the recommendation of the Nomination and Remuneration Committee, for a ....
HIRECT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hind Rectifiers' board approved: (1) re-appointment of Mr. Suramya Nevatia as Managing Director for 3 years from August 17, 2026, subject to shareholder approval; (2) revision in remuneration for Executive Director Ms. Akshada Nevatia, also related to Suramya Nevatia; (3) appointment of Mr. Suhas Pawar as Company Secretary and Compliance Officer effective May 16, 2026, replacing Ms. Megha Shekhawat who stepped down from the interim role; (4) grant of 75,291 ESOP options at Rs. 470 per option under the ESOP 2018 scheme; and (5) a preferential issue of 10,86,366 equity shares to Tata Mutual Fund (Small Cap Fund) at Rs. 920.50 per share, raising approximately Rs. 100 crore. The company conducted a board meeting from 11:30 AM to 2 PM on May 16, 2026.
The preferential issue of Rs. 100 crore to a mutual fund signals institutional confidence, while the re-appointment of the Chairman & MD and related-party executive director remuneration revision strengthens continuity but raises governance considerations. The KMP transition from Ms. Megha Shekhawat to Mr. Suhas Pawar is routine.