Hind Rectifiers Limited shareholders have approved a proposal to change the company's name to Hirect Limited, alongside amendments to the Memorandum and Articles of Association. The resolutions were passed through a remote e-voting process conducted between June 11, 2026, and July 10, 2026, with the requisite majority secured on the final date. The company also received approval to increase its authorised share capital and alter the capital clause of the Memorandum of Association.

The postal ballot sought shareholder consent on four key items. Besides the name change and capital increase, members authorised the board to raise borrowing limits under Section 180(1)(c) of the Companies Act, 2013. Additionally, shareholders approved the creation of a mortgage and/or charge on all or any of the movable and immovable properties of the company under Section 180(1)(a) of the Companies Act, 2013.

M/s. GMJ & Associates, Company Secretaries, acted as the scrutinizer for the postal ballot process. The report confirms that 129 members cast their votes on the remote e-voting platform. The total number of votes polled across the resolutions was approximately 17.3 million, representing about 50.39% of the total outstanding shares.

The voting results indicated strong support from the promoter group and public institutions. For the special resolution regarding the name change, 99.99% of the votes polled were in favour, with only 0.01% against. The ordinary resolution for increasing authorised share capital also passed with 99.93% of votes in favour. The resolutions concerning borrowing limits and the creation of mortgages were passed with 99.99% and 99.99% approval respectively.

The detailed voting results and the scrutinizer's report have been made available on the company's website and the National Securities Depository Limited e-voting portal. The record date for determining shareholder eligibility was June 5, 2026.

Voting Summary

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