Hind Rectifiers: Tata MF Invests ₹100 Cr via Preferential Issue

Hind Rectifiers Ltd's board approved the issuance of 10,86,366 equity shares on a preferential basis to Tata Mutual Fund (Small Cap Fund) for a cash consideration of ₹100 Cr at an issue price of ₹920.50 per share. The board also approved the re-appointment of Mr. Suramya Nevatia as Managing Director for 3 years and revision in remuneration for Ms. Akshada Nevatia as Executive Director. Mr. Suhas Pawar was appointed as Company Secretary and Compliance Officer, and an additional 75,291 Employee Stock Options were granted under the ESOP 2018 plan.