Investment10 Jun 2026, 01:07 pm
Hind Rectifiers Allots Warrants Worth ₹100 Cr to Tata Mutual Fund
AI Summary
Hind Rectifiers Ltd has announced the preferential allotment of 10,86,366 warrants, convertible into equity shares, to Tata Mutual Fund (Small Cap Fund) for a total consideration of ₹100 crore. The issue price per warrant is ₹920.50. The company clarified that unutilized funds will be temporarily parked in interest-bearing deposits with scheduled commercial banks and money market instruments, excluding high-quality liquid mutual funds as per NSE's observation. This move aims to strengthen the company's financial position and fund its future objectives.
Key Highlights
- Allotment of 10,86,366 warrants to Tata Mutual Fund.
- Total funds raised via preferential issue amount to ₹100 crore.
- Issue price per warrant fixed at ₹920.50.
- Clarification provided on deployment of unutilized funds.
- Non-promoter institutional investor participation.
Price Impact
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