Hind Rectifiers Limited Completes Preferential Allotment of Equity Shares
Hind Rectifiers Limited has completed the allotment of equity shares on a preferential basis, following approval by its Board of Directors. The company authorized the issue of 10,86,366 equity shares at an issue price of ₹920.50 each.The decision regarding the allotment was made by the Board of Directors of Hind Rectifiers Limited and represents the preferred issuance for cash consideration. The transaction involved the sale of these securities to Tata Mutual Fund (Small Cap Fund), which is identified as a Non-Promoter Institution.
As per the transaction details, the shares issued had a face value of ₹2/- each. The allotment aimed at raising funds, aggregating up to ₹100,00,00,000/- (Rupees One Hundred Crores Only).
Key details pertaining to this preferential issue are summarized below:
| Particulars | Details |
|---|---|
| Type of Securities | Equity Shares |
| Issuance Type | Preferential Issue |
| Number of Shares Issued | 10,86,366 Equity Shares |
| Issue Price per Share | ₹920.50 |
| Aggregate Funds Raised | Up to ₹100,00,00,000/- (Rupees One Hundred Crores Only) |
| Number of Investors | 1 |
The allotment was completed in accordance with the company's internal procedures following board approval and a special resolution passed by members through Postal Ballot.
HIRECT Stock Price Movement
Hind Rectifiers Limited shares rallied today, settling at ₹1308.6 after gaining 5.34%. The equity traded within an intraday range that spanned from a low of ₹1258 to a high of ₹1325.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.