Hind Rectifiers Limited has incorporated a wholly owned subsidiary named Hirect Global Holdings Limited in the Dubai International Financial Centre, United Arab Emirates, on June 25, 2026. The subsidiary will act as an investment holding company to oversee the company's investments globally. This strategic move aims to streamline and manage the company's international investment portfolio through a dedicated entity in a key financial hub.

The incorporation was completed with an authorized capital of AED 150,000, divided into 150 shares of AED 1,000 each. Hind Rectifiers Limited holds 100% of the shareholding in Hirect Global Holdings Limited, making it a related party of the company. The consideration for the subscription was made in cash. No specific governmental or regulatory approvals were required for the incorporation of this entity. The details of the new subsidiary were disclosed in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Hirect Global Holdings Limited

Hind Rectifiers Limited has sold a portion of its non-operational Dehradun plant for Rs.5 Crore. The sale was completed on June 22, 2026, as the company continues to divest assets that have been idle due to product obsolescence. The transaction does not qualify as a related party deal and was conducted at arm's length.

The Board had previously approved the sale of the plant, which has been non-operational since 2023. With no machinery remaining and no plans to restart operations, the company moved to monetize the asset. The specific portion sold is located at Village Chharba, New Khasra No. 64 to 67 & 74, Chharba Langha Road, Vikas Nagar, Dehradun 248197, Uttarakhand.

The buyer, Mrs. Pratima Saklani, is not related to the promoter, promoter group, or group companies. The transaction falls outside the scope of a slump sale and does not require compliance with Regulation 37A of the LODR Regulations. The company confirmed that the sale was finalized on the same day the agreement was entered into.

Sale Details

The Dehradun plant contributed no turnover or revenue during the last financial year as it was non-operational. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and a relevant SEBI Master Circular.