Board has approved the issuance of 10,86,366 Equity shares on a preferential basis to Tata Mutual Fund (Small Cap Fund), Non-promoter - Institution (Mutual fund) for cash consideration ....
HIRECT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hind Rectifiers Limited's board meeting on May 16, 2026 approved multiple items including re-appointment of Mr. Suramya Nevatia as Managing Director for 3 years from August 17, 2026. Ms. Akshada Nevatia's remuneration as Executive Director is being revised (she will also no longer be liable to retire by rotation). Mr. Suhas Pawar has been appointed as the new Company Secretary and Compliance Officer, replacing Ms. Megha Shekhawat who resigned as Interim Company Secretary effective the same day. The company also granted 75,291 additional ESOP options at Rs. 470 per option to eligible employees under ESOP 2018. Additionally, the board approved issuance of 10,86,366 equity shares (approximately Rs. 100 crore) to Tata Mutual Fund Small Cap Fund at Rs. 920.50 per share on a preferential basis, subject to shareholder approval via postal ballot.
The Rs 100 crore preferential issuance to a prominent mutual fund indicates institutional confidence in the company. The appointment of a permanent Company Secretary replaces an interim position, bringing stability to compliance functions. The ESOP grant may help retain key employees.