Hind Rectifiers Limited has informed the Exchange about Options to purchase securities
HIRECT · price
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Hind Rectifiers Limited's Board of Directors convened on May 16, 2026 and approved five key items. (1) Mr. Suramya Nevatia was re-appointed as Managing Director for 3 years from August 17, 2026 to August 16, 2029, subject to shareholder approval. (2) Ms. Akshada Nevatia's remuneration as Executive Director was revised, and she will no longer be liable to retire by rotation. (3) Mr. Suhas Pawar was appointed as Company Secretary and Compliance Officer, replacing Ms. Megha Shekhawat who resigned as Interim Company Secretary citing pursuit of external opportunities. (4) 75,291 stock options were granted under the existing ESOP 2018 scheme at Rs. 470 per option, convertible into one equity share each. (5) A preferential issue of 10,86,366 equity shares to Tata Mutual Fund (Small Cap Fund) was approved at Rs. 920.50 per share, raising Rs. 100 crores, subject to shareholder and regulatory approvals.
The re-appointment of the Managing Director and preferential issuance to a institutional investor (Tata MF) signals continued promoter-led governance stability and institutional confidence, while the ESOP grant aligns employee interests with shareholders. The Nevatia family continues to consolidate board control.