Hind Rectifiers Limited has informed the Exchange regarding Outcome of Board Meeting held on May 16, 2026.
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The Board of Directors of Hind Rectifiers Limited met on May 16, 2026 and approved several key items. Mr. Suramya Nevatia has been re-appointed as Managing Director for a further 3-year term (August 17, 2026 to August 16, 2029), subject to shareholder approval. Ms. Akshada Nevatia's remuneration as Executive Director has been revised. Mr. Suhas Pawar has been appointed as the new Company Secretary and Compliance Officer (KMP) effective May 16, 2026, replacing Ms. Megha Shekhawat who resigned as Interim Company Secretary. The company also granted 75,291 employee stock options under ESOP 2018 at ₹470 per option to eligible employees. Additionally, the board approved a preferential issue of 10,86,366 equity shares to Tata Mutual Fund (Small Cap Fund) at ₹920.50 per share, raising approximately ₹100 crores, subject to shareholder and regulatory approvals.
The preferential issue to a prominent mutual fund signals institutional confidence in the company and brings ₹100 crore capital. The leadership continuity with Suramya Nevatia's re-appointment provides stability. The KS appointment completes the compliance function following the interim KS's resignation.