Postal Ballot Notice - Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations')
HIRECT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hind Rectifiers Limited is seeking shareholder approval via postal ballot for two special resolutions. First, the company plans to grant a loan of up to Rs. 22.31 crore (approximately 2 million Euros) to Elventive France SAS, its subsidiary, for working capital and general corporate purposes. Second, the company proposes to issue 10,86,366 equity shares to Tata Mutual Fund (Small Cap Fund) at Rs. 920.50 per share, raising Rs. 100 crore. The funds from the preferential issue will be used for working capital, capital expenditure including plant & machinery, R&D facilities, and general corporate purposes. Voting period runs from May 17, 2026 to June 15, 2026.
The Rs. 100 crore equity infusion from Tata Mutual Fund brings institutional validation and capital for growth, but will dilute existing shareholders. The loan to the French subsidiary supports the company's international operations but involves a related party transaction requiring special resolution approval.