Corporate News 16-Jan-17
Board of Hind Rectifiers approves rights issue up to Rs 12 crore
At meeting held on 15 January 2017
Hind Rectifiers announced that the Board of Directors of the Company has, at their meeting held on 15 January 2017, has considered and approved raising of funds upto 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), at such issue price and right entitlement ratio as may be decide 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.
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