Hind Rectifiers Ltd. — Capital/Financing Update 2021

Jun 10, 2021

Address _ : Lake Road, Bhandup (W), Mumbai - 400078. Tel. : +91-22-25696789 Fax : +91-22-25964114 Email : corporate@hirect.com / marketing@hirect.com : CIN : L28900MH1958PLC011077 -

Ref. No. HIRECT/SEC/2021-22/18 10 June 2021

BSE Limited National Stock Exchange of India Rotunda Building, Limited . Phiroz Jeejeebhoy Towers, "Exchange Plaza" 5 Floor, C-1, Block 'G' Dalal Street, Mumbai Bandra Kurla Complex, 400 001 Maharashtra Bandra (East) Mumbai 400 051

Sub: Intimation of Grant of Options under HIRECT Employees Stock Option Plan - 2018

In accordance with the provisions of the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations"), we hereby inform you that a meeting of the Nomination and Remuneration Committee of Hind Rettifiers Limited (the "Company") was held on 10% June, 2021, at 10:55 am and concluded at 11:20 am for grant of 108445 Employee Stock Options ("Options") convertible into equal number of Equity Shares of the Company of face value of Rs.2/- each, to the eligible employees of the Company under the HIRECT Employees Stock Option Plan - 2018 ("ESOP 2018" /"Plan").

	Dalal Street, Mumbai	Bandra Kurla Complex,
	400 001 Maharashtra	Bandra (East) Mumbai 400 051
	Security Code No. 504036/HIRECT	Type of Security: Equity
	Plan - 2018	Sub: Intimation of Grant of Options under HIRECT Employees Stock Option
Dear Sir,
		In accordance with the provisions of the Regulation 30 of the Securities and Exchange
Board	(Listing Obligationsof India	Requirements)DisclosureRegulations, 2015and
	(the "Listing Regulations"), we hereby inform you that a meeting of the Nomination
		and Remuneration Committee of Hind Rettifiers Limited (the "Company") was held on
	10% June, 2021, at 10:55 am and concluded at 11:20 am for grant of 108445 Employee
Stock	("Options")Optionsconvertible	numberequalEquitySharesintotheofof
		Company of face value of Rs.2/- each, to the eligible employees of the Company under
		the HIRECT Employees Stock Option Plan - 2018 ("ESOP 2018" /"Plan").
	The terms of the grant, inter-alia, are as under:
'SI.	Particulars	Details
No.		'
	1. Brief details of options granted	Grant of 108445 options to eligible
	'	employees. Effective grant date being
		10 June 2021
2.	Whether the Plan is in terms of SEBI	Yes
	(SBEB) Regulations, 2014 (if applicable)
3.	Total number of shares covered by	108445Equity Shares of face value Re.
	these options	2/- each (Each Optionis convertible
		into one Equity Share of the Company).

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4.	Pricing Formula	Under the Plan, the exercise price shallmarketbasedonpricethebetheofCompany.
	'	Accordingly,wasexercisethepricedetermined at Rs. 85 per Option.
	5. Options Vested	outcomeNotApplicable,thisasispertaining to grant of Options under thePlan.
	6. Time within which option may beexercised	uponOptionsvestingAllshallbeexercisable within 1(One) year from thedate of respective vesting.
	7. Options exercised	outcomeNotApplicable,thisasispertaining to grant of Options under thePlan.
	8. Money realized by exercise of Options Not'	outcomeApplicable,thisasispertaining to grant of Options under thePlan.
	result of exercise of Option	9. The total number of Shares arising asa 108445 Equity Shares of face value Rs.2/- each will arise deeming all grantedoptions are vested and exercised.
	10. Options lapsed,	outcomeNotApplicable,thisasispertaining to grant of Options under thePlan.
	11. Variation in terms of Options12. Brief details of significant terms	Not Applicable.administeredThePlanbytheis
		NominationRemunerationandCommittee.
		The grant of Options is based upon thementionedeligibility criteriatheasinPlan.
		The granted Options, once vested shallOptionholderacquireentitletheto

HIND RECTIFIERS LIMITED

riHIND RECTIFIERS LIMITED	hirect.com
equalpaymentapplicableTheminimum	<br>numberuponEquityShares,ofandexercisepriceofaccordancewithtaxesinterms and conditions of the Plan.granted Optionsshall vest withinperiodand(One)yearof1maximum period of 4(Four) years fromthe date of grant.
Thebasedprovidepremiumabove.ExercisevaluefaceCompany.	OptionsExercise:Pricetheofgranted to an Eligible Employee shall bemarketonpricethetheofCompany. The Committee has power todiscountchargesuitableorsucharrivedonpriceasHowever,anycasetheinbelownotPriceshallgotheequitySharestheof theof
Subsequent changes or cancellation orNot13.exercise of such OptionsPlan.Diluted earnings per share pursuant toNot14.the issue of equity shares on exercise ofOptions.Plan.	outcomeApplicable,thisasispertaining to grant of Options under theoutcomeApplicable,thisasispertaining to grant of Options under the

Kindly take the same on record.

. Thanking you,

Yours Faithfully,

For Hind Rectifiers Limited , MEENAKSHI Digitally signed by MEENAKSHI ANCHLIA

DN: c=IN, o=Personal, postalCode=311001, st=Rajasthan, 2.5.4.20=e730281436e01058aebc02a72c4965c47f07af5e7fa 6eb9717c91e446d2554f5, serialNumber=fd049ba8df1613d925a2968d34c90013fa51c 975fa02fe06ea599dfdd479b3f6, cn=MEENAKSHI ANCHLIA

Meenakshi Anchlia ANCHLIA Date: 2021.06.10 14:49:48 +05'30'

(Company Secretary & Compliance Officer)