Hind Rectifiers has received an approval for raising of funds up to Rs 12 crore by way of offer and issue of equity shares to the existing shareholders of the company on a rights basis (Right Issue). The board of directors at its meeting held on January 15, 2017 has approved for the same.
The company will raise funds at such issue price and right entitlement ratio as may be decided by the board in consultation with Lead Manager, subject to necessary approvals, confirmation and consents as may be necessary/required for compliance of applicable law including the provisions of the SEBI (ICDR) Regulations, 2009, SEBI (LODR) Regulations, 2015 and the Companies Act, 2013.
Hind Rectifiers is engaged in developing, designing, manufacturing and marketing power semiconductor, power electronic equipment and railway transportation equipment.
