Hind Rectifiers raises INR 274m through warrant issue

Hind Rectifiers Limited will raise approximately INR 274m through a preferential issue of 200,000 fully convertible equity warrants priced at INR 1,368.23 each.

The warrants will be issued to Elventive Tech Private Limited, part of the promoter group. Each warrant converts into one equity share and must be exercised within 18 months of allotment.

The issue requires shareholder approval through postal ballot and regulatory clearances.