Hind Rectifiers allots equity warrants to promoter group

Hind Rectifiers Limited’s board of directors approved the allotment of 200,000 equity warrants. These warrants, each with a face value of INR 2, were issued on a preferential basis at an issue price of INR 1368.23 per warrant.

The allotment was made to M/s. Elventive Tech Private Limited, a promoter group entity. This issuance adheres to SEBI ICDR Regulations, 2018 and the provisions of the Companies Act, 2013.

Each equity warrant is convertible into one equity share of face value INR 2 within 18 months from the allotment date. The company will disclose conversion or lapse intimations to stock exchanges as they occur.