Investment13 Mar 2026, 07:11 pm
Rexnord Electronics & Controls Ltd Receives Provisional Sanction of Rs.213.38 Lakh Industrial Promotion Subsidy
AI Summary
Rexnord Electronics and Controls Limited has announced the receipt of a provisional sanction for the Industrial Promotion Subsidy (IPS). The provisional sanction includes an amount of Rs.84.43 lakh (85% of admissible IPS of Rs.99.34 lakh) for the period from 01.08.2023 to 31.03.2024 and an amount of Rs.128.95 lakh (85% of admissible IPS of Rs.151.71 lakh) for the period from 01.04.2024 to 31.03.2025. The actual disbursement will be considered only upon the receipt of funds from the Government, confirmation of eligibility certificate terms and conditions, and submission of prescribed documents.
Key Highlights
- Rexnord Electronics and Controls Limited has received a provisional sanction of Rs.213.38 lakh Industrial Promotion Subsidy.
- The subsidy includes Rs.84.43 lakh for the period from 01.08.2023 to 31.03.2024 and Rs.128.95 lakh for the period from 01.04.2024 to 31.03.2025.
- The actual disbursement is subject to the receipt of funds from the Government and confirmation of eligibility certificate terms and conditions.
- The provisional sanction amounts to 85% of the admissible IPS for the respective periods.
Price Impact
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