ESOP Grants to the eligible employees.
HIRECT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hind Rectifiers Limited's Board approved five key items on May 16, 2026. First, Mr. Suramya Nevatia was re-appointed as Managing Director for 3 years from August 17, 2026 to August 16, 2029, subject to shareholder approval. Second, Ms. Akshada Nevatia's remuneration as Executive Director was revised, and she will no longer be liable to retire by rotation. Third, Mr. Suhas Pawar was appointed as the new Company Secretary and Compliance Officer (KMP), replacing Ms. Megha Shekhawat who resigned. Fourth, 75,291 ESOP options were granted to employees at ₹470 per option under the ESOP 2018 scheme. Fifth, the company will issue 10,86,366 equity shares to Tata Mutual Fund (Small Cap Fund) at ₹920.50 per share to raise ₹100 crore, subject to shareholder and regulatory approvals.
The ₹100 crore preferential issue to Tata Mutual Fund brings institutional credibility and capital but will dilute existing shareholders. The re-appointment of the Managing Director and revision in Executive Director's terms ensure leadership continuity. The ESOP grant may help retain talent. The resignation of the Company Secretary indicates management transition at the secretarial level.